RBI's role in climate change

RBI's role in climate change This refers to your editorial "Tilting at windmills" (The Hindu Business Line, May 29). The analytical approach to the content of the Report on Currency and Finance is interesting. RBI is known for loud thinking in its periodic publications on subjects not directly connected with the core functions of the central bank. Reasons are obvious. Monetary Policy and the Financial System RBI regulates and supervises, in one way or the other affects all aspects of the nation's economy. But any thought that the central bank can be involved directly in influencing climate change is far fetched. Of course while chanelising credit flow RBI can play a proactive role by restricting credit to sectors harmful to environment. M G Warrier Mumbai

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