The comments of Mr.Warrier are excellent. Deputy Governors should be clearly told by the Governor that they should express views in public only on matters pertaining to the departments handled by them. This would avoid contrary views being expressed by the Bank through their Deputy Governors. Government officials like Economic Affairs Secretary and Economic Adviser to the Finance Minister have also been expressing views on interest rates which is the domain of the RBI. Finance Minister should advise them to stop expressing their views on matters which should come from the Governor. It is no use in Government saying that RBI is an autonomous institution and then allowing its officials to cause embarrassment to the Governor. Of course, Governor has been pursuing policy as he considers best and has least been affected by the views of the Government officials.
Kudos to the Governor.
Kudos to the Governor.
A. Chandramouliswaran, Former Executive Director
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