Urjit Patel is finally defending RBI from Modi: Rahul

New Delhi: Congress President Rahul Gandhi on Monday hailed Reserve Bank of India Governor Urjit Patel for ‘defending’ the central bank from Prime Minister Narendra Modi’s government, after reports suggested that tension prevailed between the RBI and the Centre.

“Nice that (Urjit) Patel is finally defending the #RBI from ‘Mr 56’. Better late than never. India will never allow the BJP/RSS to capture our institutions,” Rahul said.

RBI Deputy Governor Viral Acharya had last week spoken on the need for the central bank’s autonomy at a memorial lecture. He had spoken on the “Importance of Independent Regulatory Institutions – The Case of the Central Bank”.

Acharya had said that the theme of his speech was suggested by Patel.

The RBI Employees Association on Monday came out in support of Acharya, stating that “undermining the country’s central bank is a recipe for disaster”.

Media reports have said that there have been difference on a host of issues between the government and the RBI Governor and there has also been a breakdown of communication.