The article has highlighted the flaws of the Report very well and
gives rise to the questionable efficacy that the recommendations if
accepted and implemented. The very fact that four members have
dissented and expressed their own views, is an indication that the
recommendations if implemented will not help to bring efficiency and
soundness to the financial system which has been well nurtured and made
to resist to yield to any temptations unworthy of, by the Reserve Bank
and other regulators. Principle based supervision will not work in this
economy where principles, ethics and values have been given a go bye is
a truth which no one can challenge.A lot of serious thinking is
required before accepting and implementing the FSLRC report is what the
article highlights with some solid examples.
Dr.T.V.Gopalakrishnan
( This comment has been published in ET in response to an article 'The FSLRC Report is flawed in its approach)
Dr.T.V.Gopalakrishnan
( This comment has been published in ET in response to an article 'The FSLRC Report is flawed in its approach)
1 comment:
DR. TVG is again very right. This report appears to be another attempt of Politicians to take over or atleast influence the RBI decision making process by superimposing their views and reap benefits. Lot of thought has to go in before any seps are taken.
Sanjaya
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