RBI plays vital role in ensuring economic and financial stability: IMF
"In wishing Governor Patel all the best in the future, we also look forward to working closely with Governor Das and wish him well in his new incarnation," Rice said.
- Country:
- India
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.
"In wishing Governor Patel all the best in the future, we also look forward to working closely with Governor Das and wish him well in his new incarnation," Rice said.
(With inputs from agencies.)
- READ MORE ON:
- Question
- Begging the question
- Question mark
- Governor
- Urjit Patel
- Reserve Bank of India
- United States Congress
- Risk
- Constitution
- Deputy governor
- Exit poll
- Opinion poll
- Reproduction
- BSE SENSEX
- The Economic Times
- Pupillary response
- National Response Framework
- International Monetary Fund
- Financial crisis
- Financial market
ALSO READ
Serbia to boost defence industry cooperation with France, President Vucic says
Volatility in Indian stock market before the RBI Monetary policy results
Dubai Ambulance responds to 235,000 emergencies in 2023 with record-breaking response time
Serbia to boost defence industry cooperation with France, President Vucic says
RBI defers implementation of directions on currency derivatives to May 3