Letters: Banking on reserves | Business Standard

Letters: Banking on reserves | Business Standard

This refers to the editorial "A window of opportunity" (May 14). A change of guard in New Delhi is an opportunity for the Reserve Bank of India
and the government to "stop, look and proceed" on all policy issues
affecting India's future. Maintaining the positive note in the market
is essential, but equally significant is ensuring a smooth transition
from the pre-May 16 rigidities to the post-May 16 scenario, and
instilling confidence across divergent sectors and geographical areas
that have different priorities. Such an approach will demand a thorough
understanding of the country's resources by those who will be taking
charge of governance in Delhi. They will have to map the resources
irrespective of their ownership and prevent further leaks. Forex reserves are one of the indicators of a nation's financial strength and, therefore, building up reserves should be an ongoing process.

M G Warrier Thiruvananthapuram

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