Vallabh Bhanshali said the RBI Governor Urjit Patel's resignation was surprising and that he was unhappy with the precedent set by him.
“The worry of an incoming RBI governor being a ‘yes man' has belied (expectations) over time,” the chairman of the Enam Group Bhanshali told BloombergQuint in an interaction, adding there needs to be maturity on both the sides to manage the friction.
The communication lines between the RBI and the government need to be open. We also need more understanding about the RBI's reserves and the government's intentions for the same.Vallabh Bhanshali, Chairman, Enam Group
Bhanshali said it's absolutely clear that the board cannot run the central bank. “The RBI board is an advisory board and not an executive board by any statute of imagination that the governor and the deputy governor position has been created and has been handled so far.”
Watch the full interaction here:
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
