.............As the money market tries to figure out the rationale behind the
measures, Pratip Chaudhuri, chairman of the country’s largest lender
State Bank of India, on Wednesday questioned RBI’s wisdom in choking
inter-bank liquidity to stem the rupee fall when raising policy rates
would have communicated its intentions better to investors. “My
suggestion was that if you want to make liquidity expensive, please do
it by increasing the rate,” Chaudhuri told reporters in Kolkata. “This
is a non-transparent way of stemming the rupee fall.”...........
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1 comment:
Well stated Shri Chaudhuri.At Least a CMD has acquired spine to express his views. Others must follow and should not hesitate to offer suggestions and make constructive criticism in the interest of their organisation, otherwise RBI will not get proper feedback. By the way, Shri Choudhury must lay his claim to become RBI GUV.
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