“The entire RBI team rose to the occasion (to manage the Covid crisis). Union Power Minister RK Singh presented the businessline Changemaker of the Year award to the RBI Governor Shaktikanta Das in the presence of Nirmala Lakshman, Chairperson of The Hindu Group. Responding to Srinivasan’s question on whether being a former senior bureaucrat in the Union Finance Ministry is helping him in his role as RBI Governor, Das said that his earlier stint in government did help him. “In our case, I can tell you there has been excellent coordination and cooperation between government and central bank,” he said. “In the central bank, we need the support of government to make legislative changes like amendments to RBI Act, giving legislative powers to regulate co-operate banks and regulate NBFCs.

Source: The Hindu November 04, 2023 20:32 UTC