AUTARKY OF RESERVE BANK OF INDIA IN INDIA
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Abstract
Reserve Bank as guardian of Indian Banking sector is facing tough time from executive or if put forth bluntly government at centre as well as from Judiciary. The stringent and evasive directions to RBI over monetary matters from Government at centre and consequent resignation of top executives from RBI kicks off a debate where it is imperative to assess as to what all this institution: Reserve Bank of India is all about.
The Banking structure in India is distributed among nationalised Banks, Private Banks, scheduled, non-scheduled banks and forgein banks. A laymen approach has always look upon Banks as an institution sponsored by Governments which give loans and keep deposits. However, this approach has evolved and new era in form of mobile banking, internet banking, cross selling etc has ejaculated. With new facets, the risk in banking sector has increased two or three folds.
The writer in this work, tried to analyse the position of Reserve Bank of India vis- a- vis the banks and government with a legal lens.
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