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Govt respects RBI's autonomy: Finance ministry

Nabanita Dutta

News Editor

Amid all the reports of mounting tension between Central govt and RBI, the finance ministry has said that the autonomy of RBI is essential and is nurtured by the govt. The statement however, avoided anything regarding government's use of -never-used-before powers to issue directions to the RBI governor. Govt also sent 3 letter under section 7 of RBI, that gives govt power to issue directions on matters of public interest.