Asked whether Urjit Patel meekly accepted demonetisation, Chidambaram said, "He suffered a huge reputational slide by endorsing demonetisation."
However, he questioned how a mere discussion on RBI's functioning could be considered "destruction" of an institution.
On Wednesday, the bank's chief executive CS Ghosh said the bank would add another 40 branches by December 31.
The new RBI Governor, Shaktikanta Das is a retired 1980 batch of the Indian Administrative Service (IAS) officer of Tamil Nadu cadre.
Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre.
Obstfeld, 66, -- who is set to retire this month-end -- will be succeeded by Gita Gopinath, the second Indian to be appointed to the position.
Since the previous policy announcement, rupee has appreciated against the US dollar and moved above the psychologically crucial mark of 70.
The development comes at a time when competitors such as Google have forged ahead with their payments offerings.
The report further said that the government's new procurement policy will support prices of agricultural produce going ahead.
The Sensex started off on a high note at 35,647.62 and continued its upward march to hit a high of 35,818.65 as buying activity gathered momentum.
The central board, headed by the RBI Governor, is expected to discuss issues mentioned in the agenda circulated to the board members in advance.
The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September.
The Congress leader said the government had claimed that its "fiscal math is correct" and "boasts" that it had given up Rs 70,000 crore of borrowing for 2018-19.
Taking to Twitter, Economic Affairs Secretary Subhash Chandra Garg clarified that he government wasn't in any dire needs of funds and that there was no proposal to ask the RBI to transfer Rs 3.6 lakh crore.
e also alleged that the government as picked the central bank's board with handpicked nominees, and was making every attempt to push through its proposals at the RBI board meeting on November 19.
A statement issued by the Finance Ministry said that he government has 'nurtured and respected' autonomy of the RBI and has been holding extensive consultations with it on many issues.
The government has sent at least three letters on different issues under Section 7 (1) of the Reserve Bank of India Act that gives it powers to issue any direction to the central bank governor on matters of public interest.
The BSE benchmark Sensex dropped over 200 points on Wednesday amid rising tension between the Reserve Bank of India and the government.
Jaitley's comments reflect a growing tension between the RBI and the government, days after the central bank Deputy Governor Viral Acharya made a bold pitch for autonomy and independence in the banking regulator's functioning.
He said it was not too late for the RBI governor to stand in defence of the Reserve Bank of India, after reports said there was a rift between Patel And 'Team Modi'.
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