RBI is accountable, government runs country: Shaktikanta Das
Mumbai: Declaring that he would uphold the “autonomy, integrity and credibility” of the RBI, newly-appointed Governor Shaktikanta Das said on Wednesday that the government is resposible for running the country and the central bank is also accountable.
Briefing reporters here after taking charge as the 25th Governor of the Reserve Bank of India (RBI) Das also said that consultaions with stakeholders has become fundamental to the central bank’s functioning in view of the complexity of modern day decision-making and as part of this process he will meet the heads of the Mumbai-based state-run banks on Thursday.
Meetings with public sector banks outside Mumbai would follow “after some days”, he added.
“The RBI is a great institution and I will try my best to uphold its autonomy, identity and values. The autonomy, integrity and credibility is very important for this great institution and it will be intact,” he assured.
In response to queries on the recent government-RBI tiff culminating in the resignation of Urjit Patel as the Governor, Das refused to go into contentious issues.
“I do not like to go into whatever the issues or what are the issues between government which runs the country and the RBI, but every institution has to have its professional integrity, maintain its professional autonomy. At the same time, every institution also must adhere to the principles of accountability,” he said.
“Government is not just a stakeholder but I mean the government of the day runs the economy, runs the country and manages major policy decisions.
“There has to be a free, fair, objective and very frank discussion between the government and the RBI. And, I believe that all issues, however contentious, can be resolved through discussions,” he added.