Economics
An Accountant Stirs Debate as India Central Bank Board Meets
- Government nominee Gurumurthy sets tone before board meeting
- Rift between central bank and finance ministry has deepened
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India’s monetary policy makers and government officials will meet Monday in a board meeting that promises to be anything but its usual dull affair.
Locked in a power struggle over how much capital the central bank needs and how tough its lending rules should be, a trained accountant parachuted into the Reserve Bank of India’s board by the government in August may be key to whether a compromise can be found or whether the already public spat turns even uglier.