Reserve Bank Employees association seek central bank’s autonomy

Vastavam web: All India Reserve Bank Employees Association (AIRBEA) Monday expressed concern over the recent statements made by deputy governor Viral Acharya and sought autonomy of the apex bank. The association said in a statement on Monday that “Undermining the country’s central bank was a recipe for disaster which the government must desist. Let the two talk and sort out the issues instead of the government trying to ride roughshod over the RBI, what they are trying at the expense of the nation”. Pitching for “effective independence”, RBI Deputy Governor Viral Acharya said governments that do not respect central bank’s independence would sooner or later incur the wrath of the financial markets.