.........Reddy, whose conservative policies are widely regarded as having insulated India's financial system from the global economic meltdown of 2008, appeared to endorse the views of his successor Duvvuri Subbarao, who last week said the finance ministry should demonstrate exemplary corporate governance by exercising its ownership rights through bank boards.........
......Reddy also disagreed with one of his predecessors, C Rangarajan, who now heads the PMEAC, on the preconditions for issuing new bank licences.......
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