Chakrabarty
frowns at SBI chief’s views on CRR phase-out
The regulator's toughness is welcome but the arroagnce is
not tolerable. The Chief of SBI has every right to make his professional
opinion in the interest of commercial banking,the regulator has to be tolerant
to appreciate his stand and can have its own regualtory enforcement in a
dignified and professional way.The comment from the Regualtor that SBI Chiuef
can be elsewhere if he is not for CRR is not only in bad taste but also is
something of a very high order not expected from a regulator which has earned
its reputation and international recognition for its toughness and efficient
regulatory and supervisory mechanism. This sort of comment will be a blot on
the Reserve Bank which should carry its regualted institutions well with it in
an admirable manner.
from: Dr.T.V.Gopalakrishnan
( This appeared in The Hindu-Business Line dated 28/08/12)
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