MUMBAI – India’s central bank needs to be independent to improve the macroeconomic stability, and policies need to be rule-based, the Reserve Bank of India’s (RBI) Deputy Governor Viral Acharya said on Friday.
IN PUBLIC INTEREST
*Cover your face with masks to prevent transmission of droplets carrying coronavirus
*Exercise social distancing
*Wash your hands frequently
*Sanitize your hands
STAY HOME & STAY SAFE!
“To secure greater financial and macroeconomic stability, these efforts need to be extended to effective independence for the Reserve Bank in its regulatory and supervisory powers over public sector banks,” Acharya said in a speech, the text of which was posted on the RBI website.
Azadi Ka Amrit Celebrations India
Acharya’s comments come on the back of government efforts to carve out regulatory powers related to payments and create a separate regulator. Government officials have also been calling for the RBI to relax lending restrictions for some banks that have a low capital base.
AZADI KA AMRIT CELEBRATIONS IN INDIA
Reuters
26/10/2018
Categories: India News, World News
