Raghuram Rajan, Nachiket Mor deserve better - LATHA VENKATESH
I have so far resisted commenting on other journalists and their views but this once I am violating myself given rule. The myriad articles accusing RBI governor Raghuram Rajan of bringing his school fellow and friend Nachiket Mor into the RBI as its Deputy governor or COO are outright lies. May be these fellow journalists of mine don’t intend to lie (since some of them are really nice people) but on this one, they are making some really facile conclusions with little or no evidence and based entirely on gossip. For one thing, the decision to restructure RBI was not Rajan's baby at all. It was a job begun before he took over................
1 comment:
One wishes, things were as simple as this. But they are not. When media discusses an issue, participants in the debate get freedom to choose the layers they want to analyse. They can even decide the timing. This much is obvious. Back in 1960’s when I was in RBI as a trainee, the class-room joke was, in RBI a 10 paise coin will look down upon 5 paise and dictate terms. At that time the reference was to the Clerk Grade I(who got an additional allowance) bossing over Clerk Grade II. Perhaps, much has not changed inside RBI even at the highest level even today. Though the practice of having majority of the top 5 positions filled from outside has been working well, of late, their dependence on their employer for survival and on the ‘experts’ inside for getting things done make their life tough. Added to this are HR-related issues. The excellent leadership provided by Dr Rajan has not gone down well with those who were under the impression that ‘they’ were running the show. It is easy to divert from real issues by raising personal issues. Mor and lateral induction are being used to discredit Dr Rajan in this context.
M G Warrier
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