Transforming India
For quite some time, say since 2007, RBI has been acting like a ostrich as if the ills of the commercial banks and their NPAs are not its responsibility.
Ever since the screws were tightened by the present dispensation on NPA recovery and responsibility of monitoring it was squarely placed on regulators in RBI, which had a casual approach, the wake-up call was too much for them.
While many believe the government is trying to impinge upon the RBI's autonomy by acts such as eying its cash reserves, others say it is the RBI that is adamant and does not understand the fact that independence of an institution can't be ground for supremacy. In an emerging economy and democracy, the institutions have to balance each other, they say. Reports also suggest that this might be one of the reasons behind the resignation of Urjit Patel. I'm sure the new Governor, Mr. Shaktikanta Das will manage better the widening difference between the government and the RBI. more
Ever since the screws were tightened by the present dispensation on NPA recovery and responsibility of monitoring it was squarely placed on regulators in RBI, which had a casual approach, the wake-up call was too much for them.
While many believe the government is trying to impinge upon the RBI's autonomy by acts such as eying its cash reserves, others say it is the RBI that is adamant and does not understand the fact that independence of an institution can't be ground for supremacy. In an emerging economy and democracy, the institutions have to balance each other, they say. Reports also suggest that this might be one of the reasons behind the resignation of Urjit Patel. I'm sure the new Governor, Mr. Shaktikanta Das will manage better the widening difference between the government and the RBI. more
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Every Spokesman, Every authority, Every Governing Body SPEAK OF : Responsibility, Accountability, Credibility, Reliability and Dependability BUT, NONE AND NO BODY IMPLEMENTS . This is why every institution starting from Judiciary have been since a year either coming to public Media or disclosing the Misuse and Frauds within even through outburst of their heart at Sincerity being cautioning and signalling that alarms as the last leg option. The 6 and 1/2 decades Rule was lead so with opted diversity, deviation, dilution and even grossly ignored the particularly specified Constitutional Provisions and Mandates of JUSTICE, social, economic and even political. They even purposefully set away the issue of Education which along is the supportive to political power thirst since this disabled the citizen to know, to think of their rights and EVER DEPENDENT ON ONLY POLITICIANS. All these are due to total failure of Law and Order, Law and Justice and is why, Policing shall be Centralized with Independently energized empowerment like Indian Military Services. more
Dec 14
