Rajan sees room for disagreement between RBI and government
But former governor says triggering Section 7 would be cause to be “very worried”
Former Reserve Bank of India governor Raghuram Rajan downplayed the spat between the central bank and government on November 6, while warning of potential dangers if the row escalates.
Rajan said it was natural for the government to want to “push” growth, but the RBI had to lean against that desire whenever it threatened the financial stability mandate.
“The government always pushes. There were innumerable letters on my table coming from government, saying ‘relax this, relax that, relax
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