| This article highlights the concerns of the Government very well listing out some of the issues connected with the recommendations of FSLRC relating to RBI. The Reserve Bank has been losing its image of late as an autonomous institution having full grip on monetary and fiancial stability is a fact and this has also been sounded by the IMF when it says the finacial stability can weaken if banks balance sheets get weakened. RBI's professionalism in supervising the banks has been deteriorating and this is quite visible in banks balancesheets. RBI also tends to be ineffective when its powers are cut one by one. Even it cannot improve its own staff's perks and salaries without consulting the Government is an indicator as to what extent the Govt exercises its control over RBI and banks. The pension of retired employees has not been revised for the past two decades although the staff are entitled to get revsion on par with that of Central govt employees. |
Dr.T.V.Gopalakrishnan
( This comment in BL dt21/2/14 is in response to Tarapore's article on Interim Budget)
No comments:
Post a Comment