Government Says "Extensive Consultations With RBI" Amid Row Over Autonomy

The government today confirmed "extensive consultations with RBI" as it responded to reports that it had invoked never-before-used powers to issue directions to the central bank governor on matters of public interest. In a statement, the finance ministry said such consultations with RBI or Reserve Bank of India took place from time to time "in public interest"."The government has never made public the subject matter of those consultations. Only the final decisions taken are communicated," said the ministry.

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