Question : FUNCTIONING OF RESERVE BANK OF INDIA



(a) whether the attention of the Government has been drawn to the news-item captioned `RBI functioning influenced by Centre, says economist` appearing in the Asian Age, New Delhi dated March 27, 2002;

(b) if so, the reaction of the Government thereto;

(c) whether the Reserve Bank of India (RBI) has been criticized by the economist for day-to-day interference of the Union Government; and

(d) if so, the steps Government propose to take to ensure that the RBI functioning is not influenced by the Union Government ?

Answer given by the minister

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)

(a)&(c): Yes, Sir.

(b): Government does not agree with the views expressed by the economist. RBI functions as an autonomous organisation and Government does not interfere in the its areas of work.

(d): Does not arise.