The trust between the Government and RBI is though critical but this is what is missing these days and it reflects fully on the IFC code recently brought out. The fact that Government is not comfortable with RBI for its strong and highly professional stand on the monetary policy has been irritating the Government which has its own populistic agenda. It is unfortunate that the Government which has been enjoying the support of RBI to keep a strong and dynamic financial system has not been able to assess the real value of RBI in keeping the monetary and price stability despite several political and economic pressures from both domestic and international scenario.
Dr T V Gopalakrishnan
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