UNFAIR TO RESERVE BANK OF INDIA
Ethical decisions: ‘Why do stents cost so much?’ by Jyothi Datta (January 18) is revealing. Such products are essential items for all, irrespective of the capacity to pay. This is being exploited by agencies in the value chain....
The Hindu Business Line, January 19, 2017
Unfair to the RBI
This refers to ‘RBI has no idea how much it cost to print the new notes’ by Surabhi (January 18). It is unfortunate that a newspaper known for its adherence to prudent and ethical behavior is trying to sensationalize a common-sense response from the RBI. Compared to many other organisations in the public and private sectors, the RBI has a fairly transparent accounting practice as is evident from its annual report, which carries information about the sources of income and details of expenditure the central bank incurs to perform its various functions.
The information sought, namely the cost of printing new ₹500 and ₹2000 notes, may not be available with the RBI as it is still a work in progress. It’s like asking Hotel Taj International the cost of making rotis during a particular period. The hotel may attempt to give some estimated figures, which the RBI may not be comfortable doing.