The FM and RBI

The UPA government ruined the economy. They have also sown the seeds to kill the otherwise Sound Financial system of the country by appointing FSDC and FSLRC to take away the powers of RBI which has systematically and meticulously built up the Financial System against all odds and earned the well deserved recognition from all over the world to keep the financial system insulated from global financial crisis. If RBI 's powers are clipped further, one can see the collapse of the Financial system at the earliest and the damage cannot be  easily repaired . Political agenda if allowed to overlook and supersede  the economic agenda, the country can have only a very bleak future.The financial system particularly the banking system is very healthy strong and sound  only because the Reserve Bank's approach to have a strong financial  foundation keeping in view the growth of the economy and make it a super economy on par with other advanced economies.

Dr.T.V.Gopalakrishnan

This comment is in response to  the news report "Centre to review RBI powers as part of financial sector reforms" that appeared in Business Line dated 15/12/13).