The Reserve Bank of India has called for the next meeting of the central board on Nov. 19, three people familiar with the matter told BloombergQuint on condition of anonymity. The suggestion of the next date of the board meet went out on Wednesday, people cited above confirmed. This, even as government officials maintained that the issues between the RBI and the government must be seen in 'larger public interest.'
Earlier in the day, the government had issued a statement in light of the public spat that has broken out between the RBI and the Finance Ministry. 'The autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement," said the government in its statement. "Both the Government and the Central Bank, in their functioning, have to be guided by public interest and the requirements of the Indian economy," the statement said.
The RBI's board meeting call came within hours of that statement being put out and could be seen as a sign of easing tensions between the two sides, although there is no formal indicator of a consensus emerging on any of the contentious issues.(Source : Bloomberg)