Join Business Today's Senior Associate Editor Anilesh S Mahajan as he talks about literary works from three former RBI governors: Raghuram Rajan's I Do What I Do, Bimal Jalan's India: Priorities for the Future, and Y V Reddy's Advice & Dissent: My Life in Public Service, in the latest edition of Bookmark.

It will be a starry midnight in the historic Central Hall on June 30 that will have from megastar Amitabh Bachchan to industry doyen Ratan Tata in attendance at the launch of India's most sweeping tax reform, GST.

India and Russia today vowed to develop a credit rating industry that is \"independent from political conjecture\" -- a move that follows apprehensions about global agencies being biased towards large economies like the US and China.

The government came under severe criticism from various quarters, while estimating 7 per cent GDP growth for third quarter ended December, discounting affect of demonetisation on the economy.

Earlier, the issue of RBI's autonomy was raised by Nobel laureate Amartya Sen and former governors Y V Reddy and Bimal Jalan.

Refuting allegations of interference by an RBI union, the finance ministry today said the government fully respects independence and autonomy of the Reserve Bank of India.

The letter comes days after concerns about RBIs functioning being raised by at least three former Governors -- Manmohan Singh (former PM), Y V Reddy and Bimal Jalan. Former Deputy Governors, including Usha Thorat and K C Chakrabarty, have also voiced their concerns.

After two former RBI Governors Y V Reddy and Bimal Jalan, Nobel Laureate Amartya Sen on Tuesday raised questions on Reserve Bank's autonomy saying nowadays the central bank does not decide anything and all decisions are taken by Prime Minister Narendra Modi.

RBI governor Y V Reddy regretted yesterday that the institutional identity of Reserve Bank of India has been damaged and stressed that for central bank \"reputational risk is worst risk\".

Interestingly even as the nation is pitching in for India first policy to crackdown on the blackmoney with this bold move, the new notes being printed are not 100 percent made in India.

In his maiden monetary policy review in Mumbai on Tuesday, the 52-year-old Governor, who also coincidentally chaired the first meeting of the new six-member monetary policy committee (MPC), announced the decision to slash the repo rate by 25 basis points to 6.25 per cent.

In an interview, the Infosys co-founder said India should be very fortunate to have the central bank governor serve this country for not just one but two more terms.

When asked whether Raghuram Rajan should be given extension, Indian-American economist at Princeton University Avinash Dixit said, \"Yes, definitely. I think Raghuram Rajan deserves a second term as the RBI Governor... he should have full operational independence in pursuing targets (inflation, employment or growth).\"

As Raghuram Rajan continues facing heat from some sections of BJP, leading industry body CII on Thursday backed a second term for RBI Governor, saying he has done a great job for the country and personal attacks on him are \"demeaning\".

On May 16, India's premier bourse, the National Stock Exchange (NSE), declared a hefty dividend of Rs 73 per share for its shareholders. The total payout aggregated to almost Rs 330 crore - close to 75 per cent of the exchange's total profit of Rs 439.33 crore for FY2016.

As per Sebi rules, an exchange cannot list its shares on its own platform and it has to go to another bourse for listing to avoid any conflict of interest that might arise while discharging its duty as a front-line regulator for the securities markets.

The move came after its 22 shareholders with more than 1 per cent stake in the exchange met the management here last week and gave their go ahead for the plan.

Yashwant Sinha, former minister of finance and external affairs, tells Business Today that the Narendra Modi government is taking forward the agenda set by the earlier NDA government.

Reserve Bank of India Governor Raghuram Rajan had also expressed some doubt about the issue saying nothing was mentioned in Finance Minister Arun Jaitley's Budget speech.