RBI's potential not fully exploited


Subject: Rupee: Dollar-rupee swap: RBI chief between a rock and a hard place - The Economic Times


https://m.economictimes.com/markets/forex/dollar-rupee-swap-rbi-chief-between-a-rock-and-a-hard-place/articleshow/68460409.cms

My response:
Please read the last letter in the following link:

For: CHAT ROOM, Economic Times


March 19, 2019
Use RBI’s potential
This refers Andy Mukherjee’s piece “Is the RBI chief stuck between a rock and a hard place?” (March 19). The language used and the analytical approach are adequate to give the common man an impression that India’s central bank is in a “Chakravyooha” from which it may or may not get out post-elections. Though changes in Delhi do affect the incumbencies at the top level in RBI, the institution has a mind and unlike in government/s, policy continuation within the bank is fairly insulated from political influence.
This explains the multiple reasons being attributed to the new $5 billion swap move by RBI. Though for a single institution it has become somewhat unwieldy to manage its core central banking functions with responsibilities like financial inclusion and debt and reserves management, the institution has, over time become used to multiple-tasking and has used its different roles to support government in pursuing national priorities.
RBI has not so far received the recognition it deserved, mainly because it is compared with other central banks with limited central banking functions. For fear of loss of prominence, even Delhi is not using the immense capabilities of RBI in the country’s resources management. Scope exists for more coordination among policy formulators in Delhi (NITI Ayog included) and RBI.
M G WARRIER, Mumbai

 

Comments

Post a Comment

Popular posts from this blog

A prayer which Prime Minister Narendra Modi may kindly grant!

http://wap.business-standard. com/article/opinion/heed-the- pension-prayer-117110500774_1. html A PRAYER TO PRIME MINISTER The wish expressed on page 211 of his book "I Do What I Do" need to be taken cognizance of, by PMO as Rajan feels "GOI should do the right thing" If Rajan is wrong, time to place the correct information in public domain. M G Warrier Thiruvananthapuram
Read more

NAVAGRAHA STOTRAM

NAVAGRAHA STOTRAM* According to astrology, the positions of the nine planets in the twelve constellations of the zodiac and their movements are considered to be quite significant. The nine planets ‘Navagraha’ affect every aspect of human life. They play an important role in the activities, physical and mental health and life of any individual. The unfavorable positioning of any of these planets can be the cause of problems, bad health, and stagnation for many people. However, there is a solution to avoid the ill effects of the position and movement of the ‘Navagraha’ in our lives. Navagraha mantras (or stotram) are simple mantras which work as powerful healing tools to reduce the negative effects of any of the nine planets. These mantras are Hindu holy hymn addressing the nine planets. Benefits Of Navagraha Stotram And The Way to Practice The Navagraha Stotram is written b y Rishi Vyasa and is considered to be the peace mantra for the nine planets. They are powerful m...
Read more

The King of Ragas: Sankarabharanam

                       The King of Ragas                      --------------------------     Long ago  serpents were put to lot of hardships.They  were afraid of other animals. They had to seek refuge in the hermitage of sage Saraba.The sage was a true devotee of Lord Shiva.He used to pray Shiva with melodious songs. As he sang a particular raga the snakes were much inspired and they began to dance,. Slowly the serpents became friendly with the sage. They brought water in their mouths for the pooja.They secreted  a special fluid in which the flowers got stuck to their bodies.The sage was much astonished by the service of the snakes.As the sarpas became very close to the sage ,they requested him to help having Darsan of Lord Siva. As requested by the sage Shiva appeared in the form of  a  Kapalika and stayed in the ashram.The...
Read more