A question of autonomy: How independent can independent agencies really be?

Abstract

The central banker functions in all the slots and parallelly with the state, and it is but natural that there are issues of turf and tensions. The book Unelected Power came to me for review a while ago. It took quite some time to read and internalise it before I could say something about it.

Providentially this is also an appropriate time to write about the book, when the issue of autonomy of the Reserve Bank of India (RBI) is being discussed and tested. The issue is never settled and never will be, but it will always be tested, discussed and new rules will be drawn up as new discussions, events and controversies emerge. Paul Tucker has been there and done it! Therefore, one would expect that his position would be in ... Read more at: https://www.business-standard.com/article/beyond-business/a-question-of-autonomy-how-independent-can-independent-agencies-really-be-118111601313_1.html