..........In this context, the methodology for issue of guidelines being followed by RBI in the recent past, which elicits and accommodates the concerns and views of the stakeholders, simultaneously ensuring protection of country-specific and sector-specific regulatory and supervisory needs for which the central bank is responsible deserves appreciation. Perhaps, like the present day parents who are not able to cope with the speed and coverage of teaching in the best schools they send their kids, Finance Ministry and top managements of banks and financial institutions are finding it difficult to keep pace with the professional and democratic functioning of RBI..........
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