NEW DELHI: Union finance minister Arun Jaitley criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech on Tuesday.
"The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Jaitley said whilst speaking at an tournament in New Delhi.
Tensions between the finance ministry and the RBI have risen since the bank's deputy governor Viral Acharya said in a speech on Friday that undermining a central bank's independence might be "potentially catastrophic", in a sign that it's pushing back exhausting against govt pressure to relax its insurance policies and cut back its powers.
"The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Jaitley said whilst speaking at an tournament in New Delhi.
Tensions between the finance ministry and the RBI have risen since the bank's deputy governor Viral Acharya said in a speech on Friday that undermining a central bank's independence might be "potentially catastrophic", in a sign that it's pushing back exhausting against govt pressure to relax its insurance policies and cut back its powers.
Finance minister Arun Jaitley criticises RBI for lending excess
![Finance minister Arun Jaitley criticises RBI for lending excess]()
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October 30, 2018
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