Viral Acharya, in an interview with ThePrint, says his and Urjit Patel’s dissent, resistance and exits from RBI limited the damage that could have been inflicted on financial stability.
In his book released Friday, Patel also wrote that governments use state-owned banks to pump-prime the economy during slowdowns and are unlikely to let go of this instrument.
Urjit Patel wrote to Arun Jaitley in 2017, pointing out problems of electoral bonds, and said govt had diluted RBI’s monopoly by taking away its exclusive right to issue them.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
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