..............In the larger context of financial sector reform, which Reserve Bank of India Governor Raghuram Rajan has set so much store by, this is the third in a series of reports - following the Nachiket Mor and Urjit Patel Committee reports - blueprinting significant changes in the system. Like the previous two, its recommendations are worth serious consideration; they do offer the government a way out of an increasingly difficult situation, which does no good for anybody. However, like the other two, this report is also likely to step on a number of toes, perhaps even more so...........
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