VITALINFO: As India goes to the polls, its banking chief coul...

VITALINFO: As India goes to the polls, its banking chief coul...: ............. There would be no more effective a way of the new government shooting itself in the foot. Indeed, if Mr Modi is serious abou...

Online comments posted on April 14, 2014:

Some political comments about ‘changing’ RBI Governor made by some disgruntled politicians are getting echoed in the media, which are being taken seriously by those who have no source to check out realities. In the institution’s history of about 80 years, political changes has affected the highest post in the Indian central bank just once. That was to replace an incumbent who was actually ineffective. After Subrahmaniam Swamy made some comment about RBI Governor in the context of Elections 2014, senior BJP spokespersons like Arun Jaitly had clarified that the party’s approach was not to go by individuals. That and the past history of RBI which has maintained continuity at the top all along, irrespective of the changes in New Delhi should have set at rest the speculations. There can be no two views about RBI and Dr Rajan being able to take the gossips in their stride. Still, there is no denying the possibility of their(the gossips) having some dampening effects in the short term, on the current initiatives of the central bank to move faster with financial sector reforms and giving a direction to monetary policy. Such impact may last for another month. 

M G Warrier


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