Raghuram Rajan conveniently ignored the fact that of increment in saving doesn’t guarantee more purchasing power. And this is what exactly happened during his regime.
From the country’s perspective, the need of the hour from the new governor is the delineation of an agile credit delivery structure that meets the demands of all sectors of the economy.
As citizens of the nation, we must know what all the current elected government has achieved so far, which make us proud.
Govt. and RBI should discuss and sort out these irritants in a relationship, which should recover quickly, with no long-term harm done. The spat must be bridged or remain limited and not blow up further.
The government’s commitment to maintaining macroeconomic stability — fiscal deficit and exchange rate are very major components of that — is expected to be total.
In the absence of any timely checks from the RBI on the banks which kept on restructuring their assets even during Raghuram Rajan’s term ensured that NPA rose to mind-boggling 7 lakh crores by the time he left in September 2016.
To curb the financial frauds: Privatization of banks/ replacing RBI board/ establishing an independent entity: What can work?