The Reserve Bank of India and the Finance Ministry need to work in harmony, ex-Prime Minister Manmohan Singh said on Saturday against the backdrop of reports about differences between the two institutions. “I would like the two institutions to work in harmony,’’ said Singh, who had served as RBI governor and then as Finance Minister before becoming Prime Minister.
“RBI is a great institution ... Finance Minister (Arun Jaitley) has already said that there is no disconnect between the two,” Singh told reporters on the sidelines of an award function. ‘‘I had been a Governor of RBI as well as a Finance Minister,” he said. There have been reports about differences between RBI and Finance Ministry over the structure of a new agency that was to manage public debt, among other issues, including setting of policy rates.