Finance Minister Arun Jaitley meets RBI Governor to sort out differences
New Delhi, Oct, 30 (IBNS) :Union Finance Ministerr Arun Jaitley on Tuesday met Reserve Bank of India Governor Urjit Patel,whose deputy recently called for giving the central bank a free hand, media reports said.
RBI Deputy Governor Viral Acharya's open statement at a programme created a stir strongly suggesting a policy war between the central bank and the Government.
Arun Jaitley chaired a meeting of the Financial Stability and Development Council that Urjit Patel attended as chief of the RBI or Reserve Bank of India.
The conflict between the Government and the RBI surfaced after Acharya's speech on Friday warning that undermining the RBI's independence could be "potentially catastrophic".
The Finance Minister, in turn, criticized RBI and accused it of failing to prevent bad loans. "
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