Govt to take view on Financial Code after public comments



News:

  •  The government will take a view on the draft Indian Financial Code, which proposes to dilute powers of the RBI chief, after receiving comments from stakeholders.
  • FSLRC has made its recommendations, which have been made public for comments. After the comments are received, it is only then that the government will take a view.
  • It is also proposed that the committee would have four representatives of the government and only three from the central bank, including the ‘RBI Chairperson’.
  • The IFC,  proposes a monetary policy committee which will be entrusted with the task of deciding the key policy rate and chasing the annual retail inflation target to be decided by the government in consultation with RBI.

Source: BS


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