Prime Minister Narendra Modi compared the then Reserve Bank of India governor Urjit Patel as a ‘snake who sits over a hoard of money’, former finance secretary Subhash Chandra Garg has claimed in his book ‘We Also Make Policy’.
In his book, the excerpts of which were carried out by a news website , Garg said that the Narendra Modi government's ‘frustration’ with the then central bank chief had grown as early as February 2018 and escalated a month later when he accused the government of its inability to shed regulatory authority over nationalised banks, which according to him left the RBI with inadequate regulatory authority over the public sector banks compared to private-sector banks.