Independence vs Accountability of RBI Flashcards
1
Q
Who warned the Indian government about the independence of the Central Bank ?
A
Deputy RBI Governor Viral Acharya
2
Q
Which Act allows the Government to issue orders to RBI on account of ‘public interest’ ?
A
Section 7 of RBI Act 1934
3
Q
Why is independence of RBI important ?
A
- Implementing Policies
- Free from political interference
- Ensuring sustainable growth
4
Q
Why is accountability of RBI important ?
A
- Democracy
- Transparency
- Answerable in failures
