Talent Pool

August 13, 2015 Talent pool This refers to the feature “She’s Got RBI’s Numbers” (ET, Money & Banking, August 12). RBI’s present approach to monetary policy has evolved under the leadership of individuals like Dr C Rangarajan, S S Tarapore, S L Shetty, Narendra Jadhav and Michael Patra(present Executive Director). It is true that Dr Subbarao when he was Governor lamented over the unreliability of obsolete data for policy formulation. Mostly the problems were not about collating or analyses of data within RBI, but about the unreliability of outsourced data (there is no escape from outsourcing data in a country with 1.25 billion people!) which were sometimes outdated also. Induction of external talent for specialised work, though not a regular feature, has been part of RBI’s policy. In the present scenario, government should consider formalising maintenance of ‘Talent Pool’ for different specialised jobs, from atomic research to field level studies for improving agriculture practices, which could be accessed by organisations in public and private sectors and government in times of need. Gradually, inter-mobility of executive at higher levels among comparable departments of governments (state and central) and public and private sector organisations should be made possible, by evolving transparent norms. M G WARRIER, Mumbai


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