........Less then a month after RBI’s board was reconstituted, it issued another press release on 18 October 2011. It announced the appointment of two more directors on RBI’s central board. YH Malegam was reappointed from 7 October 2011 for four years ‘vice Shri H.P. Ranina’ and another director in place of Lakshmi Chand. No explanations. Why does the government believe that RBI cannot function without Mr Malegam as a director? .............
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