A top Reserve Bank of India official said on Friday that undermining a central bank's independence could be "potentially catastrophic", in comments appearing to push back against government pressure ahead of a general election next year. Government officials have recently called for the RBI to relax its lending restrictions on some banks, and New Delhi has also been trying to trim the RBI's regulatory powers by setting up a new regulator for the country's payments system.
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Monday, 29 October 2018
RBI deputy governor Viral Acharya criticises Modi govt for undermining bank's independence, warns of 'potentially catastrophic' results
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