....Now newspapers are full of praise for this so called Young Economist being at the helm of RBI affairs. I too do not have doubt about his capabilities. Question which arises in my mind is whether the ‘young age’ will become a virtue or a drag for his performance. I am raising this issue as most of the bankers are facing such a clash of personalities in the banking sector. In last five or six years, some CMDs have brazenly promoted junior officers by ignoring the performance of seniors. These banks have seen lot of personality clash as senior in service are being asked to serve under the junior people. Such brazen violation of seniority has led to slower growth of the banks and rise in NPAs. Rajan too is likely to face challenges from his Deputies, some of them are much older and experienced in the field of banking......
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1 comment:
Dr Rajan, as is evident from his academic and professional record, is a fast learner and capable of finding solutions to the toughest of economic and monetary problems. His challenges lie in (a) how fast he will be able to ‘unlearn’ the IMF lessons which were moduled with prosperity of the developed world in view and (b) how quickly he will get convinced about the historic dual responsibility of RBI to ensure distributive justice while supporting economic growth and reframe his arguments to convince North Block that after all RBI has been on the right path and what the central bank lacked was the support from GOI.
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