
The relationship between India's Finance Ministry and the Reserve Bank of India (RBI) is often compared to a family dynamic, with the government typically favoring the ministry. Disputes, though usually settled privately, can spill into public view. A notable instance occurred in 2018 when the Punjab National Bank (PNB) fraud led to public blame between the finance minister and the RBI governor regarding regulatory oversight of public sector banks, which have seen significant loan write-offs.
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