An uneasy truce between Prime Minister Narendra Modi\u2019s government and the central bank was tested two days after the administration said it respects the central bank\u2019s autonomy. \u201cRupee trading at less than 73 to a dollar, Brent crude below $73 a barrel, markets up by over 4% during the week and bond yields below 7.8%. Wrath of the markets?\u201d Subhash Garg, economic affairs secretary, said on Twitter Friday. Garg is taking advantage of a rally in emerging Asian markets to send a riposte back at Reserve Bank of India Deputy Governor Viral Acharya, who last week said governments that don\u2019t respect central bank independence \u201cwill sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory institution.\u201d Rupee trading at less than 73 to a dollar, Brent crude below $73 a barrel, markets up by over 4% during the week and bond yields below 7.8%. Wrath of the markets? \u2014 Subhash Chandra Garg (@SecretaryDEA) November 2, 2018 The tweet suggests that tensions continue to simmer, with the government pushing the RBI to provide more liquidity to troubled non-bank finance companies, and part with more of its reserves to fund the nation\u2019s fiscal deficit. The rupee fell Wednesday morning when it was reported that officials sent letters to the central bank, citing special powers which if invoked, could lead to the government directing RBI to do its bidding. \u201cThe market is hoping that the rife has been amicably settled,\u201d said Lakshmi Iyer, chief investment officer of debt at Kotak Mahindra Asset Management Co. in Mumbai. \u201cBut if it shows some signs of resurfacing, there can be uncertainty.\u201d Indian markets haven\u2019t been taking a lot of positive news in stride lately, she said. That sentiment seems to be turning with the rupee headed for a weekly gain and bonds posting their first monthly gain in October in three.