• Friday, March 29, 2024

Business

Indian Government, RBI Set For Uneasy Truce: Sources

It is unclear how much of a role prime minister Narendra Modi played in defusing the tension. Local media reported that Modi met Patel last week in an attempt to sort out the contentious issues but officials in the prime minister’s office and the RBI said they did not know of such a meeting (Photo: PUNIT PARANJPE/AFP/Getty Images).

By: Radhakrishna N S

India’s government and its central bank, Reserve Bank of India (RBI) are getting close to ironing out some of their policy differences, said two sources familiar with the discussions, as they seek to defuse worsening tensions that had threatened to unnerve investors. While the rift is far from healed, the sources said enough progress had been made to avoid acrimony at a board meeting of the RBI next week. The threat that RBI Governor Urjit Patel would quit, as reported by some Indian newspapers last week, is also thought to be off the table, for now, they said. The uneasy…

You do not have access to this content. You need to subscribe.

Related Stories

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…