Is Cold war between RBI Guv& Gov-over ?
RBI Governor Raghuram Rajan on Tuesday agree on doing away with the veto power of the central bank chief, arguing it would be better for a committee to decide the key rate rather than one individual."Currently, the situation is governor has a veto, that is, effectively all advice is only advice and the ultimate decision is of Governor's. So, if we continue to retain a veto, it doesn't change the current situation. It maintains the status quo. That is something to keep in mind," Rajan said