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Government set to turn up heat on RBI governor Urjit Patel

Updated : November 08, 2018 06:47:00 IST

While there appeared to be a partial truce last week when the government said it respected the autonomy of the Reserve Bank of India (RBI), the sources said the government will turn up the heat at the bank's central board of directors meeting on November 19.
Investors and traders warn that if Patel quits it will create uncertainty and undermine India's already-weak financial markets. They have been hurt in recent weeks because of defaults by a major financing company.
The RBI has consistently pushed back against calls from the government to hand over more money from its reserves to help fund the fiscal deficit.
Government set to turn up heat on RBI governor Urjit Patel
Published : November 07, 2018 12:35 PM IST

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