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Regulators can't work in isolation: FM on spar with RBI, Urjit Patel

Updated : December 19, 2018 06:12 AM IST

Without mentioning the government invoking the never-before-used controversial Section 7 of the RBI Act, he said government used "every instrument available to our advantage to force a discussion with RBI" on the issues of liquidity and credit, which it is important for the economy.
He claimed that there was never a breakdown in the relationship between RBI and government, and that pleasant meetings were held regularly on the differences at all levels, including with the Prime Minister Narendra Modi.
Regulators can't work in isolation: FM on spar with RBI, Urjit Patel
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