Rajan bats for more power to RBI board

Rajan bats for more power to RBI board: 'I am glad to report that henceforth our budget will be approved by our Central Board,' Rajan



My VIEW:



Brilliant coverage of an important document by Business Standard. The document can become a reference point in future, though, perhaps, at the time of writing (keying in!), Dr Rajan was addressing his 'colleagues'. This year’s New Year Message from RBI Governor to his ‘colleagues’ is a unique document which can form the basis for HR-related reforms in government and organisations across public and private sectors in India.

The RBI Annual Report 2014-15 also had the Rajan touch and did express several concerns which needed support from GOI to enable RBI to perform effectively. Strangely, media (both electronic and print) which usually give broad coverage to RBI’s Annual Reports in the past did not take adequate notice of the report. Of course, the annual report is with GOI and hopefully, appropriate action will be taken on issues flagged therein.

M G Warrier, Mumbai


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