RBI Governors never fail the Government is what its History speaks

The Central Bank and the Central Government need to work in close coordination protecting the interests of Politics of the ruling party and the economics of the Country benefiting the people and the nation. A critical and deeper analysis of the Working of Central bank for more than eight decades would reveal that the Central Bank with all its professionalism and command over the economy has taken care of the political interest of the Government in letter and spirit and at the same time keeping its operations independent to ensure monetary and financial stability to a great extent. Of late despite the best of intentions on the part of the Government to develop the economy , the RBI has not been allowed to freely function the way RBI perhaps desires and the interference of the Government by various ways to divert RBI's attention , energy and resources to cover up weaknesses of the Government despite best of intentions to deliver on the economic front through concrete and meaningful fiscal policies have unfortunately resulted in the resignations of two Economists from the Central Bank before they could do something solid to take the economy forward as the Government intends and RBI functions in terms of the RBI ACT. RBI is not a Corporate body to be dictated and its Functions differ from various corporates as RBI has to ensure that the Economy moves forward in tandem with the Governments thinking keepinig into account the various aspects of economic fundammentals and also the dynamics seen in the international economy. The Author seems to  be well read but has apparently missed out the various volumes of RBI history. All Governors have faced more or less similar or worse situations and they have all well delivered the RBI functions keeping the image of the Governments in power in tact and maintaining the autonomy of the central bank outwardly atleast..

T V G Krishnan 

(This comment appeared in ET dated 4th Aug 2020 against the Article Why Urjit Patel and Viral Acharya are wrong on RBI's Criticism)