{"id":35580,"date":"2018-10-31T18:29:52","date_gmt":"2018-10-31T12:59:52","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=35580"},"modified":"2018-11-15T19:27:24","modified_gmt":"2018-11-15T13:57:24","slug":"how-centres-board-game-fuelled-the-feud-with-rbi","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/how-centres-board-game-fuelled-the-feud-with-rbi\/","title":{"rendered":"How Centre\u2019s \u2018board game\u2019 fuelled the feud with RBI"},"content":{"rendered":"<hr \/>\n<p><a href=\"https:\/\/www.thehindu.com\/business\/Economy\/how-centres-board-game-fuelled-the-feud-with-rbi\/article25373129.ece\"><strong>How Centre\u2019s \u2018board game\u2019 fuelled the feud with RBI<\/strong><\/a><\/p>\n<p><strong>News:<\/strong><\/p>\n<ol>\n<li>The simmering tensions between the Reserve Bank of India and the Centre found spectacular release recently through a public speech by Deputy Governor Viral Acharya.<\/li>\n<\/ol>\n<p><strong>Important Facts:<\/strong><\/p>\n<ol start=\"2\">\n<li>A certain amount of creative tension is systemically in-built between Reserve Bank of India and Centre given their different perspectives.<\/li>\n<li>For example, Centre\u2019s concern is short-term and political while RBI\u2019s concern is long-term and technical.<\/li>\n<li>Though such tension is good for the economy, but there are few issues over which both the Centre and RBI are irked over each other.<\/li>\n<li><strong>Centre- RBI Conflict:<\/strong><\/li>\n<\/ol>\n<ul>\n<li><strong>Non-Performing Assets: <\/strong>Centre has refused to accept Governor Urjit Patel\u2019s point that the RBI is hobbled by lack of adequate powers in regulating public sector banks to handle the non-performing assets crisis.<\/li>\n<li><strong>Forex reserve and fiscal deficit: <\/strong>The Centre is eyeing RBI\u2019s burgeoning reserves to bridge its fiscal gap which RBI resents.<\/li>\n<li><strong>Payments regulator:<\/strong> The Centre is attempting to set up an independent payments regulator, which the RBI sees as encroachment of its jurisdiction.<\/li>\n<\/ul>\n<ol start=\"6\">\n<li><strong> Recent tensions: <\/strong>The government\u2019s intervention through the board sparked recent tensions\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 between RBI and Centre as follows:<\/li>\n<\/ol>\n<ul>\n<li><strong>Expulsion of Nachiket Mor:<\/strong> One of the board members, Nachiket Mor tenure was abruptly brought to an end by the government which is unprecedented in RBI\u2019s history.\n<ul>\n<li>Nachiket Mor, one of the most articulate voices on the board, was extremely vocal against issues like regulatory forbearance and higher surplus transfer, which the government was aggressively pushing.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-35559\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/nachiket.jpg?resize=640%2C257&#038;ssl=1\" alt=\"\" width=\"640\" height=\"257\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/nachiket.jpg?w=640&amp;ssl=1 640w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/nachiket.jpg?resize=150%2C60&amp;ssl=1 150w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/nachiket.jpg?resize=300%2C120&amp;ssl=1 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><strong>\u00a0\u00a07.Way Forward: <\/strong><\/p>\n<ul>\n<li>The Centre and the central bank must talk behind closed doors and resolve their differences as mature entities i a amicable manner.<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-35558\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/points.jpg?resize=519%2C420&#038;ssl=1\" alt=\"\" width=\"519\" height=\"420\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/points.jpg?w=519&amp;ssl=1 519w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/points.jpg?resize=150%2C121&amp;ssl=1 150w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/points.jpg?resize=300%2C243&amp;ssl=1 300w\" sizes=\"auto, (max-width: 519px) 100vw, 519px\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Centre\u2019s \u2018board game\u2019 fuelled the feud with RBI News: The simmering tensions between the Reserve Bank of India and the Centre found spectacular release recently through a public speech by Deputy Governor Viral Acharya. Important Facts: A certain amount of creative tension is systemically in-built between Reserve Bank of India and Centre given their&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/how-centres-board-game-fuelled-the-feud-with-rbi\/\">Continue reading <span class=\"screen-reader-text\">How Centre\u2019s \u2018board game\u2019 fuelled the feud with RBI<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[9],"tags":[577,221,217,687,578,579,688],"class_list":["post-35580","post","type-post","status-publish","format-standard","hentry","category-public","tag-centre-rbi-conflict","tag-economy","tag-gs-3","tag-non-performing-assets","tag-payments-regulator","tag-reserve-bank-of-india","tag-viral-acharya","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704882700},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=35580"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35580\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=35580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=35580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=35580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}