.......Reserve Bank of India (RBI) Governor Raghuram Rajan has been a consistent advocate of floating exchange rates and this may come in the way of his willingness to buy up dollars, thereby preventing the rupee from discovering its true value. However, this is not a position that should be cast in stone, particularly when the issue is viewed in the broader context of financial stability. While........
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:
This is a timely reminder to both the central bank and GOI. A change of guard in New Delhi is an opportunity to ‘stop, look and proceed’ on all policy issues affecting India’s future. Financial sector is important, maintaining the positive notes in the market is essential, but equally important and significant is ensuring a smooth transition from pre-May 16 rigidities to post-May 16 scenario instilling confidence across divergent sectors and geographical areas which are at varying stages of development and therefore have different priorities.
Such an approach will demand a thorough understanding on the part of those who will be taking charge of governance in Delhi, of the sources and uses of country’s resources, mapping them irrespective of their ownership and ensuring appropriate measures for preventing further leakages.
Forex reserves maintained by a country is one of the indicators of a nation’s financial strength and therefore building up reserves should be an ongoing process. RBI and GOI should also bring transparency in accounting as also standardisation where necessary and preservation of precious wealth lying idle with various organisations including palaces, temples and other religious bodies.
Post a Comment