Everybody is accountable in a democracy: B N Srikrishna | Business Standard
Everybody is accountable in a democracy: B N Srikrishna | Business Standard
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The comments/questions "In our country, even the Prime Minister and President can be challenged. So, who are the regulators?" and "Which regulator tells us what is the reason behind which he is doing something?" by Justice Srikrishna here perhaps would have had some relevance a couple of decades back. Today, it is doubtful that anyone including those who are at the receiving end, will have any doubt about the accountability of statutory bodies or the need for those who take action in exercise of powers conferred on them to be transparent about the justification for the action. A reading of the recent RBI circular on new norms for debt recast will clear any doubt about transparent and democratic functioning of the central bank today.
M G WARRIER
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