- The text mentions that the RBI and government work in close coordination.
- It highlights that Section 7 of the RBI Act (GoI’s power to direct RBI) has never been used.
- This is a “testimony to the sense of responsibility that the government and the central bank have displayed.”
- It implies that disagreements are sorted out quietly behind the scenes.
- The text emphasizes continuous and sustained dialogue and an atmosphere of give and take.
- It does not specifically detail the coordination process during the 2008 global financial crisis.