Pressure Was Put On RBI To Paint Rosier Picture Of Growth, Claims Ex Governor

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Individual: Gautam Adani

Pressure Was Put On RBI To Paint Rosier Picture Of Growth, Claims Ex Governor

The finance ministry under Pranab Mukherjee and P Chidambaram used to pressurise the RBI to soften interest rates and present a rosier picture of growth to shore up sentiments, recalled former RBI Governor Duvvuri Subbarao in his memoir. In his recent book 'Just A Mercenary?: Notes from My Life and Career', Mr Subbarao also wrote that there is 'little understanding and sensitivity' in the government on the importance of the central bank's autono…