Whose servant are you Mr Raghavan. Just because the govt and RBI were on the same page with respect to demonetization, does it mean fingering RBI ? What autonomy or independence are you talking about ? The courts wants independence and you suggest RBI needs independence then what is the Govt supposed to do ? There is rot in these independent organizations. Who is responsible for it. You would say the Govt, but you don't want the govt to do its job.
May be you were distinguished, but after this article you extinguished your so called illustrious carreer. Biased and politicized views. Pass or Fail the PM has made a genuine effort to root our corruption and blackmoney instead of supporting him you are trying to pick holes. Useless fellows. You have a better plan then spell it out. We have a PM who is begging for ideas and things to implement, he will definitely listen to you.
Forget RBI and its history, no PM of India has ever been hounded or scrutinized as PM MODI. Shame on these so called intellectuals.
Re: Distinguished civil servant ?
by janga sridhar on Jan 19, 2017 03:24 AM
And it is a pity that we still follow a ACT laid out in 1935. Come on be comfortable with change.
RBI has to control the non conformance happened at the time of demonetisation. From RBI knew note how it has gone in spite of so such security. Firsts they have to control when genuine has deposited their money, the RBI has made mess
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Please read article of Mr. R. Sriram in Economic times of 17/1/17 in the financial white page now. 9 & 11, which tells you under what circumstances RBI worked for 10 years under Mr. Pranab Mukerjee & Mr. P. Chidambaram under the UPA rule. Where were these critics at that time? Where were these Trade Unions who are now talking of Autonomy then? Were they sucking their thumbs so that they had no guts to protest then but have now woken up like the intellectuals who were talking of Award Wapasi but none ever returned. Looks like all supporters of UPA including Communists wake up now when NDA makes them work instead of lying idle. Dr. Raghuram Rajan was able to fight the onslaught during the UPA regime at the fag end when he was in control of RBI. Sad these congress & UPA supporters will always keep cribbing on any policy decisions taken by NDA.
Re: RBI crediability
by arulraj on Jan 19, 2017 05:24 AM
I think you are sucking something else, during that time nothing has happened as happened now. open your eyes and see the reality. Don't defend the blender made by this most selfish people who never thought about the welfare of the common people nor the welfare of the country. Be open to the reality of today's economical situation of India in all the quarters.
Re: PMO and the North has already revamped.
by chanakya maurya on Jan 16, 2017 10:14 PM
It had been constantly hampering the reforms you know !!!
Inflation is after all not a very big issue. It cannot infiltrate into the air-conditioned homes and offices of the policy maker politicians who all feel they are wiser than Harvard educated economists.
At the outset, Iwould say the professors of least utility are Economists. That may be the reason why they are in millions around the world with least talent of predictability. Take the cases of Issac Newton or Albert Einstein, their predictability is 100% contemporaneously speaking. Similar is the case with deciding the credibility of RBI. The former IAS lobby which has been set aside for their lack of knowledge despite stint in WB / IMF are now opening their mouth on so called independence while they were servats of their Masters in Finance Ministry, and allowing Banks like GTB, NBI etc to wind up after the damage is done; allowing rupee to fall to abysmal levels from the days of Independence on the premise "Export or perish" making the shit from abroad like USA costlier than Gold.
THIS DEMONITIZATION WAS THE MAIN REASON WHY RAGHURAM RAJAN WAS REMOVED AND A YES MAN OF MODI WAS BROUGHT IN URJIT PATEL AS RBI GOVERNOR.RAJAN WAS A MUCH BETTER AND SENSIBLE ECONOMIST AND WOULD HAVE TRIED TO SHOW REASONS TO THE GOVT BEFORE THIS DEMONITIZATION.BUT URJIT PATEL ONLY TOES WHATEVER THE PM AND EVEN THE FINANCE SECRETARY SAYS.HE SEEMS DUMB.
Re: RBI'S CREDIBILITY
by SRINIVASAN IYENGAR on Jan 17, 2017 02:46 PM
Demonitisation policy was scripted by Dr. Raghuram Rajan & Dr. Urging Patel 6 months before implementation. Some situations /problems were not anticipated during implementation. They should have known that we Indians are known for their notoriety for breaking all rules & regulations framed by the Government. We always believe that rules are meant to broken at all levels. Hence corrections have been imposed from time to time & actions taken to catch the culprits. Some are still extra smart and hope the law's long arm reaches immediately to ensure that now enforcement will be perfect.
Re: Re: RBI'S CREDIBILITY
by arulraj on Jan 19, 2017 05:33 AM
which culprits are you talking? what about all those who BJP branches bought the lands just before the announcement? what about the all the political parities and their case donations? Has any politician from any party has been caught? do you think any politician does not have any black money? do you think any big corporates and industrialist don't have black money? open your eyes bhaktha
THIS DEMONITIZATION WAS THE MAIN REASON WHY RAGHURAM RAJAN WAS REMOVED AND A YES MAN OF MODI WAS BROUGHT IN URJIT PATEL AS RBI GOVERNOR.RAJAN WAS A MUCH BETTER AND SENSIBLE ECONOMIST AND WOULD HAVE TRIED TO SHOW REASONS TO THE GOVT BEFORE THIS DEMONITIZATION.BUT URJIT PATEL ONLY TOES WHATEVER THE PM AND EVEN THE FINANCE SECRETARY SAYS.HE SEEMS DUMB.
It is very easy for arm chair economists to talk of RBI autonomy and govt interference .As regards employees' letter ,lesser said the better because these are from Communist categories not bothered about the country but about their parties and themselves . Coming to Modi's govt ,CAN THE RBI OR THE WRITER DENY THAT ARSON ,VIOLENCE ,RIOTING ,STONE THROWING ETC AS WELL AS MAOIST VIOLENCE HAS DWINDLED AFTER DEMONETISATION? IS RBI CAPABLE OR COMPETENT TO DOES THE RBI HAS CAPACITY TO DO THESE THINGS? IT IS SAD THAT THESE ARM CHAIR ECONOMISTS AND POLITICOS SHOUT WHEN SOMETHING IS DONE AND AGAIN IF NOTHING IS DONE .IT IS OUR HISTORY THAT WE HAVE ANTI NATIONALS NOT OUTSIDE THE COUNTRY BUT VERY MUCH WITHIN LIKE SOCALLED INTELLECTUALS ,POLITICOS JNU & EX JNU PEOPLE AND JOURNOS.INDIA IS AFFECTED BY THEM AND NOT BY OUTSIDERS.
