Centre downplays RBI board change

The finance ministry on Friday downplayed its decision to break from tradition and replace economic affairs secretary Rajiv Mehrishi with his deputy Ajay Taygi on the Reserve Bank of India board. Although a notification nominating Tyagi, additional secretary in the department of economic affairs, on the RBI board was issued on June 22, the central bank had not made the decision public or made any changes even on its website. Tyagi has already attended one board meeting — the one held in Chennai on July 2  Indian stock market astrology prediction
Although speculation is rife over the move, given the recent differences between the finance ministry and the RBI, sources in Delhi as well as Mumbai said too much should not be read into the decision. "The economic affairs secretary is pre-occupied with various engagements in Delhi and often finds it difficult to attend RBI board meetings. That's why the additional secretary has been nominated," said a source. For years, the economic affairs secretary has been the government nominee on the RBI board with the financial services secretary joining the top table on Mint Road only recently. 

According to the RBI website, there are 17 board members, including RBI governor and four deputy governors. Mehrishi's name is still part of the central board of directors as reflected on the website  Himanshu Tiwari Astrologer

While the government and the RBI have over the years sparred over how interest rates should move, the friction over the setting up of a monetary policy committee that will decide on key rates has been a recent phenomena. Earlier this year, the government decided to withdraw its plan to amend the law to take away debt management powers from the RBI and set up an independent agency for the purpose.