INSUBCONTINENT EXCLUSIVE:
very upset with the Reserve Bank of India (RBI) for publicly talking about a rift with the government, fearing it could tarnish the
country's image among investors, senior officials said on Monday.On Friday night, the RBI Deputy Governor Viral Acharya warned that
undermining a central bank's independence could be "potentially catastrophic", in an indication that it is pushing back hard against
government pressure to relax its policies and reduce its powers.One government official said that it was vital that what happened between
the government in Delhi and the RBI in Mumbai was kept confidential."The government respects the autonomy and independence of the RBI but
they must understand their responsibility," the official said.A second official, based in Prime Minister Narendra Modi's office, said it was
"very unfortunate" that the RBI had made the matters public
"The government is very upset
It was not expected from the RBI," the official added.
