We respect autonomy and independence of RBI, says FinMin

Finance Ministry on Saturday said that it respects the autonomy and independence of Reserve Bank of India.

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. 

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.

Feeling “humiliated” by events since demonetisation, RBI employees on Friday wrote to Governor Urjit Patel protesting against operational “mismanagement” in the exercise and Government impinging its autonomy by appointing an official for currency coordination.

Also Read: Demonetisation | RBI's autonomy and image dented beyond repair: Employees to Urjit Patel