..........Of India’s financial regulators, RBI enjoys relatively greater autonomy because of three key differentiating factors: greater control over finances, a well-paid team of in-house technocrats, and a convention allowing independence in central banking. Autonomy allowed RBI under former Governor Y.V.Reddy to take counter-cyclical measures ahead of the global financial crisis in 2008 despite being under pressure from the Centre not to do so. Reddy’s interventions saved the economy from major damage during the crisis. Although RBI has lost sheen since then, it still remains among the better managed central banks in the developing world.........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment