............The
next question: should the RBI be kept out of the unified agency, making
it a half-way house? Ideally, the RBI should be allowed to oversee
banking and payments at least for the next five years for the simple
reason that it has been able to manage monetary policy better when it
supervises banks, manages forex reserves and also government debt............
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.
1 comment:
The idea of creating a Unified Financial Agency for all financial regulators except RBI, truncating RBI by separating Public debt Management and keeping the agency doing that work(presumably with the same work force) in RBI premises, later UFA subsuming even RBI all give a feeling that the FSLRC was not allowed to ‘apply its mind’ and in the eagerness to satisfy all, and so fast, it has forgotten its own brief. Perhaps the purpose would be served better, if RBI is allowed to function with its present mandates, a coordination committee sorts out issues among the remaining regulators and if GOI aim is to reduce the number of regulators, merge with RBI, the agencies outside RBI one by one as work stabilizes. The twin goals of one Unified Financial Agency and managing the man-power-related issued mentioned here, would be better achieved this way.
Post a Comment