India

Don't Mess With India's Central Bank

The government should be defending its independence, not encroaching upon it.

Rajan's warned against such schemes before.

Photographer: Tomohiro Ohsumi/Bloomberg

The first repercussions of the impending departure of Raghuram Rajan from the Reserve Bank of India could now be visible -- and it looks like those who argued the independence of India’s central bank was under threat may have been right.

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