Mumbai, August 2
A shift to being a market-based economic system from a nationalised system has led to tensions between the RBI and authorities and questions over the Central Bank’s independence, former RBI Deputy Governor Viral Acharya has stated.
The economist, who went again to educating within the US after his resignation from the RBI final 12 months, stated the dip in monetary financial savings was another excuse which might clarify disagreements between Mint Road and North Block. “Over discussions with former Governors and Deputy Governors, I have found one explanation for why these pressures are now simmering more. I think it is because we have moved from a nationalised economy to a market economy,” Acharya stated. — PTI