Moneycontrol News
Urjit Patel resigned as the Reserve Bank of India (RBI) governor on December 10, nine months before his tenure was to end in September 2019. His 27-month long stint at Mint Street was rocked by a testy debate on the central bank’s autonomy.
The RBI's relationship with the government has been less-than cordial, with Patel's deputy, Viral Acharya, stating in October that the government was eyeing the central bank's reserves and attempting to drive through its agenda on monetary policy. There has been disagreements between the two institutions regarding issues relating to the PCA framework, resolution of bad loans and RBI’s regulatory oversight on payment and settlement system.
M Saraswathy is in conversation with Ravi Krishnan, Deputy Executive Editor, Moneycontrol to discuss the possible repercussions of Urjit Patel's resignation, and what the future holds for the economy in the event of a protracted turf war between the government and the RBI.
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