SME Times News Bureau | 11 Dec, 2018
Downplaying Reserve Bank of India (RBI) Governor Urjit Patel's
resignation, Niti Aayog vice-chairman Rajiv Kumar on Tuesday said the
central bank is a professional institution and is not dependent on one
individual.
"RBI is such a professional institution, a long
standing institution that the business will continue. It's not as if it
is dependent on any one particular individual," Kumar said on the
sidelines of 15th Global Inclusive Finance India summit here.
Patel
resigned from his position on Monday after a tiff with the government
on liquidity issue and matters related to RBI's autonomy. The stand-off
came out in public domain in October after RBI Deputy Governor Viral
Acharya flagged the concern.
However, Kumar expressed his faith
in the RBI's institutional capabilities and said the government will
take necessary steps to maintain business as usual.
"Rest assured
the government will do whatever is required to make it business as
usual... RBI's institutional capabilities are very strong and they will
do whatever is required for the markets and economy.
"The government, I am sure, is seized of the matter and will take care," he said.
Kumar added: "The Governor has done amazing work in the last two years that he has been here".
