The Reserve Bank of India (RBI) is in danger of losing its vaunted reputation as one of India most trusted institutions as it attempts to maintain its role in promoting price and financial stability against a backdrop of government policies that do not necessarily enhance the RBI's medium-term goals, according to an article published in the latest edition of the Central Banking Journal. The article says the RBI has gained a strong reputation for its commitment to support growth as well as maintaining price stability. Moreover, its detailed intervention in the regulation of banks, financial products and capital flows has also drawn extensive praise during the past five years. The RBI has shown what report author Hugh Sandeman, a financial advisor and journalist, refers to as a "lack of intellectual inhibition in the exercise of old-fashioned common sense"...............
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