Letters - Moneylife- RBI should survive!

Who Creates NPAs in Banks? - Moneylife

RBI should survive!
This is with regard to “The RBI’s ATM usage rule flies in the face of its own Consumer Charter” by Sucheta Dalal. The Reserve Bank of India (RBI) is bread and butter for many and the only remaining support for RBI pensioners like me. One Srikrishna (FSLRC) has recommended something close to demolition of RBI and, if people like you ask for straight demolition, someone may do exactly that. Interest rates were deregulated long back and the impression being created that lending rates are dependent only on RBI’s base rates is just an excuse proffered by government and banks to keep the burden of defence on the broad shoulders of the governor RBI. Let RBI survive. There are some reasons for that institution to survive—like currency management, public debt management, regulation of financial sector and so on.
MG Warrier


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