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RBI Vs Government: Reserve Bank Governor Urjit Patel to resign?

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31 oct : news express 24 :

New Delhi: The dispute between the Reserve Bank and the central government is not taking the name out. There has been a lot of debate on whether RBI Governor Urjit Patel will resign in these developments. RBI Governor Urjit Patel has expressed his disapproval many times over the role of central government in terms of repatriation with repetition. A few days back, the central bank’s deputy governor, Viral Acharya, had expressed in a program that the government should not bring back the freedom of the bank. After that the relations between the central government and the RBI were tense. The discussion has started, therefore, whether Urjit Patel will remain the Governor or not.

The central government-the debate between the RBI and the controversy over the statement made by Finance Minister Arun Jaitley on Tuesday (October 30th) was a matter of concern. Arun Jaitley criticized the Reserve Bank of India in an event. Jaitley said that during the year 2008-2014, banks were financed by arbitrarily. This time the RBI ignored. He also hoisted the bank’s debt problem on the Reserve Bank.

Meanwhile, a section has been circulated by the government to implement ‘Section 7’ under RBI Act. Former Union Finance Minister P. Chidambaram expressed fears of tweeting about the report. ‘If Section 7 has been imposed by the government, many bad news may come today’, said Chidambaram.

 

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