Reserve Bank Of India governor Urjit Patel may consider resigning from his post if Section 7 of RBI Act is invoked to transfer reserves.The government and the RBI came to loggerheads after the deputy governor Viral Acharya hinted that the government is trying to hinder the independent working of the institution.The spat became more public when Finance Minister Arun Jaitley blamed the institution for ālending spreeā during UPA era. We spoke to Vishwas Utagi, Banking expert over this ongoing rift between the RBI vs the Government.
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