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
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
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