Raghuram Rajan Now Says What ABS Said Two Years Back - Bank CMDs Openly Defy RBI Hints

.....Now Mr Raghuram Rajan with the backing of government is better placed and has publically confronted CMDs of Banks as to why they are not listening to his hints expressed through monetary policy.   It seems, CMDs have become too thick skinned and feel that they can defy anybody, except some political bosses (who watch their interests),  even if their policies are against the national interest. Sometimes I wonder as to why such financial wizards, who have reached the posts of CMDs, fail to take clue from RBI policies, whereas some people like me who could reach only AGM after over 30 years service, can easily pick up such hints.    I do not find any reason except that it is due to their protection of personal interests and apathy towards national interest......

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