Nehru letter to RBI may give Modi government ammunition in Urjit row

Sir Benegal Rama Rau was the RBI fourth governor and quit in January 1957 when Jawaharlal Nehru sided with finance minister TT Krishnamachari and made it clear that RBI was part of “the various activities of the government”. Rau had accused TTK of “rude behaviour” over differences that began over a Budget proposal.

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