The writer appears inclined to the govt.'s policy, right or wrong. System works according to the law. Rules and regulations govern a system. The RBI or for that matter, any central bank around the world works looking at the distant picture. They are experts in it. The govt. will see a short term goal to achieve its political gain. They will not pay any heed to the plight of common people whereas the central bank is committed to do the right thing.
The writer appears inclined to the govt.'s policy, right or wrong. System works according to the law. Rules and regulations govern a system. The RBI or for that matter, any central bank around the world works looking at the distant picture. They are experts in it. The govt. will see a short term goal to achieve its political gain. They will not pay any heed to the plight of common people whereas the central bank is committed to do the right thing.
... he is paid by the indian govt, how can he go against the govt openly breaching the protocol ? If he has any grudges did he approach his boss-the governor of RBI ? Why not ? He should have quit first and then spoken against the govt. People of his ilk want to do some kind of grandstanding in front of their foreign bosses ...
The columnist is blowing hot and cold. He supports Dr. Viral Acharya for his ideas and logic but questions the MANNER in which he said them. This is just like saying that You are right, truthful, but I do not like the manner in which you spoke the truth and right things! What sort of a logic is this? Ultimately the Government will prevail, because it has the POWER, not LOGIC. Using a stick to discipline a person who speaks the TRUTH is horrendous. Muralidharan rightly says that the bureaucracy should be controlled, should not be allowed to run amok. But none of the Finance Ministers has had the will and courage to do this. You cannot expect Acharya to keep his mouth shut when bureaucracy shows you the stick three times and even after issuing an apparently assuaging statement tweets provocatively. Why is Arun Jaitley keeping mum on this provocation? Dr.Rajan asked for closure of the Department of Financial Services in Government. Earlier, back in 1970's Dr. Hazari called for closure of the Department of Banking in the MInistry of Finance. While the bureaucracy and the political boss accuse RBI of not doing its duty in regulating banks, they do not say a single word on the nonperformance of the Government nominees on the banks' Boards. Why this double speak?
The career graph of Acharya shows an ascending pattern. His career is brilliant. And after all he is an appointee of the present govt. So what he says also should be noted instead of dismissing his idea. Muraleedharan has worked in a few organisations but he should not look down on others.
Murleedharan has hit the nail squarely on the head.Viral Acharya is, in Swami Vivekananda's words, a 'moustached baby', who is rehashing the views (and almost the words) of Mr P. Chidambaran, which might be 'famous last words' once the Supreme Court is satisfied that the the Aircel-Maxis case is fair enough to take its own course!
