RBI accountable to government, says reserves panel chairman Bimal Jalan

The Reserve Bank of India is accountable to the government and should make policies within the framework set by the government, according to former central bank chief Bimal Jalan, who is now heading a panel tasked with framing guidelines for the transfer of the RBI's surplus funds to the government.

Jalan, 77, was appointed to chair the panel late last month, just weeks after a fierce row over central bank independence led to a change at the top of the RBI. Having clashed with the government over policy issues for several.....

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