Operational independence of central banks important for carrying out their responsibilities: IMF

116

Get real time updates directly on you device, subscribe now.

Operational independence of central banks important for carrying out their responsibilities: IMF

The International Monetary Fund (IMF) on Thursday said “operational independence” of central banks like the Reserve Bank of India (RBI) was important for carrying out their responsibilities.

IMF Director Gerry Rice said this in response to a question on the recent developments at the RBI. He, however, added that his views were in the context of international experiences.

“International experience shows that operational independence is important for a central bank to carry out its responsibilities,” Rice said in response to a question.

The RBI played a vital role in ensuring economic and financial stability, and was an important counterpart and partner for the IMF, he said.

Rice added that the IMF had “taken note of” Urjit Patel as the governor of the RBI and the appointment of Shantikanta Das as his replacement.

“We believe Patel was instrumental in formulating the Reserve Bank of India’s inflation-targeting framework as a deputy governor and in successfully implementing it as governor,” he said.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2018-12-14 15:12:13

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

Get real time updates directly on you device, subscribe now.

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy