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Government respects independence and autonomy of RBI, says Finance Ministry

Government respects independence and autonomy of RBI, says Finance Ministry

India Blooms News Service | | 14 Jan 2017, 08:40 pm
New Delhi, Jan 14 (IBNS): The Ministry of Finance on Saturday said the government respected the 'independence and autonomy' of the Reserve Bank of India.

The government refuted  allegations of interference as was raised by an RBI union.

"There has been a report in sections of the Press that some unions have alleged infringement of the autonomy of the Reserve Bank of India.  It is categorically stated that the Government fully respects the independence and autonomy of the Reserve Bank of India," read a government statement.

"Consultations between the Government and the RBI are undertaken on various matters of public importance wherever such consultation is mandated by law or has evolved as a practice. Consultations mandated by law or as evolved by practice should not be taken as infringement of autonomy of RBI," it said.