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RBI overhaul to ease relationship with govt

3 candidates will join 3 RBI representatives on a new monetary policy committee for collective interest rate decision

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INDEPENDENT THOUGHT: The creation of the monetary policy committee gives a clear signal to the market that the overall decision it takes will not be driven or guided by the government.

New Delhi

THE biggest change in the Reserve Bank of India's (RBI) eight-decade history promises to soothe what was often a fractious relationship between the central bank and government.

Prime Minister Narendra Modi's administration on Thursday announced three candidates to join an