.......This was a reference to Chidambaram’s exasperated remark that if the RBI refused to walk in step with the finance ministry, he would rather walk alone. But then, Subbarao hoped that the minister would at the same time add “Thank God, there was Reserve Bank”. Against this backdrop, Rajan had walked into the RBI. The expectation was that he would walk in step with the North Block and comply by lowering interest rates as a gesture to encourage growth. But Rajan did not follow that route. He chose his own path. It appears he had chosen, as if, to sit before a big size control panel for the Indian economy, fine tuning various knobs and levers to set the pace of the flow of finances and, thereby, activity in various channels. Why this imagery?.........
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:
It is reported that in the hot seat Dr Raghuram Rajan sticks to the path of independence,
This shows he knows how to handle his pounds, shilling & pence,
On this score can anyone take offence,
He will ably steer the Bank about, under and also over the fence,
He is also well versed in the art of defence,
About this he makes no airs or show of pretence,
We hope when he has run the course he receives an Arjuna award not a sentence.
Post a Comment