Section 7

RBI vs govt: At 19 November board meet, S Gurumurthy’s economic theories and other pain points await Urjit Patel

Gurumurthy’s recent comments had challenged the central bank on multiple issues and some of his economic theories had surprised many.

Backing RBI on NPAs, Finance Minister Arun Jaitley says minimising bad loans alone will ensure credit flow

Relations between the RBI and the Finance Ministry have soured in the last month after the North Block started consultations under the never-used Section 7 of the RBI Act

RBI vs govt: The 18 'wise men' tasked with supervision of Mint Street watched for next course of action

The entire board is appointed by the government under the RBI Act, which mandates the central board with "general superintendence and direction of the Reserve Bank's affairs".

Govt to continue pressing Reserve Bank of India for relaxing norms, funds to boost lending

The reports of rift between the central bank and the government surfaced last month following which the finance ministry reportedly started discussion with the RBI under the never-used before Section 7 of the RBI Act.

From demonetisation jokes to becoming RBI’s knight in shining armour, Urjit Patel is now the real rockstar of Mint road

RBI governor Urjit Patel's next major test will come in the days ahead when the RBI board will meet on 19 November.

RBI autonomy: Bimal Jalan says it’s central bank’s job to implement govt policy, governor should quit if differences cannot be resolved

The sharply depreciating rupee amidst rising global oil prices and the massive foreign funds outflow from the capital market are not crises

Urjit Patel versus Centre: NDA govt has a strong case to influence RBI, but only irony is that it is turning Nehruvian

Urjit Patel has won considerable sympathy among the nation's economic elite for asserting that the RBI needs autonomy and independence to perform its role

SFLC expresses dismay at SC's decision to exempt Section 7 from Aadhaar-linking deadline extension

The very idea behind extending Aadhaar deadlines was to spare residents from being forced into a system whose legal validity is undetermined: SFLC.in

Aadhaar hearing: Section 7 exception in Supreme Court’s interim order greatly affects people’s constitutional rights

This has a significant impact on their constitutional rights, in particular, their right to life and liberty, even before the Supreme Court has passed its final verdict on the matter.