RBI board meeting finally ends after 9 hours
Mumbai, Nov 19 (IBNS): Amid an ongoing rift between the government and the central bank, the Reserve Bank of India (RBI)'s board meeting finally came to an end after nine hours on Monday.
The RBI has alleged that the Centre is making attempts to undermine its autonomy.
Reports have emerged that the government has proposed a few changes with which the Centre will be able to strictly supervise the RBI.
The government and the RBI was supposed to reach at a middle ground during the meeting over the issue, report said.
The board meeting was presided by the Finance Ministry nominees and some independent directors.
Though reports had also surfaced that RBI Governor Urjit Patel might resign, a situation which is now much unlikely to occur, NDTV reported.
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