Months before 8/11, MP, Haryana probed note ban
The Supreme Court on Friday refused to tinker with the move to do away with the use of now-defunct high-value currency notes for public utilities, in government hospitals and for rail tickets.
The final and most significant reset in the relations between the government and the RBI is the manner in which the process of appointing the governor and deputy governors of the central bank has been changed.
The global economy is fragile now. It continues to face both long-term and short-term issues.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
RBI aiming to bring down headline number to 8% by end of this year and to 6% by the end of next year.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
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