Transparent Policy

Exploitative banks: It’s intriguing that commercial banks are also levying cash handling charges in respect of the ‘forced’ cash deposits now being made by hapless customers following demonetisation. There’s neither rationale nor moral...

Transparent policy
With respect to Usha Thorat’s article, ‘Well-advised wait and watch stance’ (December 8), we must concede that the policy statement together with the post policy announcement interaction with the media by Team RBI have not left any issues ambiguous. As for the surprising unanimity, perhaps after deliberations, every member was convinced about the decisions. This mature approach is opposite to that adopted by the Financial Sector Regulatory Reforms Commission where the chairman wrote a report setting aside several dissenting views expressed by members.
The clarification by the RBI that demonetisation by itself will not have an immediate impact on its balance sheet should set at rest allegations about the Centre having an eye on windfall gains. In the business of banking, trust is paramount.
MG Warrier
Mumbai

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