Signaling truce with the government over who should decide interest rates, RBI Governor Raghuram Rajan today appeared to favour doing away with the veto power of the central bank chief, arguing it would be better for a committee to decide the key rate rather than one individual
Finance Secretary Rajiv Mehrishi confirmed that the suggestion to take away RBI governor's veto power on interest rate decisions did not come from the FSLRC reports but from 'public comments' on it.