RBI looked the other way when banks lent excessively: Jaitley
Finance Minister Arun Jaitley criticised the RBI saying it "looked the other way" when banks gave loans indiscriminately between 2008 and 2014. "I do not know what the central bank was doing. They kept pushing truth below the carpet," he added. Jaitley's comments come days after RBI Deputy Governor Viral Acharya raised concerns over the central bank's autonomy.