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.
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