Warrier's blog

RANGANATHA AND SRINIVASA https://www.thehindu.com/ society/faith/ranganatha-and- srinivasa/article25814165.ece M G Warrier

My response to a phone call: Some 'GIFT IDEAS' https://www.amazon.in/gp/aw/s/ ref=nb_sb_noss?k=m+g+warrier My Dear… Many thanks for your appreciation of my work and the encouraging words you spoke. This year, I've published 6 books in 10 editions. Some of them (in eBook version) are available free for download for Amazon members. I have made available print copies of books on RBI/Indian Economy free to several opinion-makers who generally get books free and can't afford to buy every book they are expected to read. They include Modi, Kejriwal Ex-Governors/Dy Governors of RBI, media persons etc (more than 100 of them). I've not given any copy free to relatives/businessmen (so, you didn't get) I can gift you a...

December 24, 2018 RAID on RBI’s CAPITAL FUNDS This refers to EPW Special Article “Paranoia or Prudence?” (December 8). Strangely, none of the experts who have been commenting on the recent controversy about GOI intention to draw from RBI’s reserves (substantial portion of which can be monetized only by sale of gold or securities held with RBI) has commented on the adequacy of the present level of share capital of India’s central bank which is remaining static at Rs 50 million since inception of RBI. I am not commenting on the content of this article which can be easily perceived as a pro-GOI note to take forward the idea mooted in the Economic Survey 2015-16 and withheld after being proved unwise by RBI under the leadership of Raghuram Rajan. On this issue, no elucidation is needed beyond reading Raghuram Rajan’s speech at St Stephen’s College, Delhi “The Independence of the Central Bank” included under references. In a recent article   “Why should the government own ...

https://www.moneylife.in/ article/impact-of-rate-cut-on- savers-interests/43540.html The link will take you to an old article written by me, which has relevance in the present context. M G Warrier

December 22, 2018 Ownership issues This refers to TCA Srinivasa-Raghavan’s article “Why should the government own the RBI?” (Business Standard, Line and length, December 22). I am impressed by the suggestion in the concluding paragraph. I quote: “…in the interest of academic enquiry, commission a three-year project to examine the implications of re-privatizing the RBI, to be led by Mr Rajan and Urjit Patel.” The writer’s suggestion is influenced by the burden of knowledge of history and the awareness of the GOI's usual tendency to dodge quick solutions. But, recent experiences in India have shown that, where there is a will, there is a way. I would refer to only two of them relevant in the context of transforming RBI into a non-GOI owned, ‘Board-driven’ (I have been hearing this in the media on and off nowadays) and professional entity performing all of the central bank’s present roles and functions. They are, nationalization of banks in India and appointment ...