There is again a rift in between Reserve Bank of India and Central government. It seems as if RBI doesn’t want to work under governmental pressure. This comes after judiciary and CBI are already having hard time due to interference by the government.
Actually, Deputy governor Viral Acharya has said that Modi government is interfering in RBI work. CPI (M) leader Sitaram Yechury wrote on social media- They don’t hear anyone. Modi government’s only aim is to make false promises to people. They have imposed demonetisation against former RBI governor and have destroyed economy.
किसी की नहीं सुनी।सिर्फ़ जुमला कसना और लोगों से झूठे वायदे करना मोदी सरकार का उद्देश्य है। आर॰बी॰आई॰ के पूर्व गवर्नर की राय के ख़िलाफ़ नोटबंदी लागू कर के अर्थव्यवस्था तहस-नहस कर दी।अब फिर विनाश की ओर.. pic.twitter.com/Y4amke5RqJ
— Sitaram Yechury (@SitaramYechury) October 30, 2018
It is to note that Modi government had asked RBI to reduce interest rates. However, RBI refused to do so.
RBI is against Modi government’s decision to waive off loans of industrialists. This decision can be harmful to the Indian economy in future. Actually, 21 government banks have waived off Rs. 3.16 lakh crore of industrialists from April 2014 to April 2018. RBI has asked Central government to not interfere in their matters.