........."Regulators like RBI are to aide the government in administering and governing... No single central bank in the world can say, I am autonomous, therefore, I will decide what I will do,...........
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There could hardly be any dispute over Justice Srikrishna’s view expressed asunder:
“Therefore, you need something that is drastic, something that is total overhaul of the existing financial system,"
But, FSLRC missed the opportunity to do this. Going round and round the idea of destabilizing the central bank(RBI) which is the only institution functioning satisfactorily and cutting and pasting recent innovations elsewhere brought about in different contexts and refusing to do the strenuous task of looking at India-specific issues and country-specific solutions for them, the Commission ended up where it started the work!
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