Strong disagreement on various aspects of the RBI’s monetary policy led to a heated argument between Members of Parliament and Governor of the central bank D Subbarao, though the head of the nation's topmost financial nerve centre was forthright about the "difficulties" being faced by the nation's economy on the whole..............
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1 comment:
It is indeed epoch making that the Governor,as reported,stood his ground in his discussions ( reportedly heated)with the Parliamentary Committee and defended his policies.The present incumbent has done great help and service to future Governors in the matter of maintaining the fierce independence of the central bank of the country which has got eroded over a period of time. Shri Yashwant Sinha, a knowledgeable person, may have his own good arguments and reasons for differing with the Governor. But then, the responsibility for the policy of the Bank is on the Governor and he would have to fianlly decide on its contours.
A.Chandramouliswaran.
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