IF Chakraborty goes , RBI can definitely get back its lost glory and can make its monetary policy yield some positive and intended results.Being a DG in the RBI with a commerical banking culture, he has contributed to make RBI also a bit non performing and brought it on par with commercial banks. RBi should feel highly relieved as, if the lieutenants are not very cooperative and understanding and do not identify themselves with the RBI and its functioning which are totally and diametrically opposite to Commercial banks operations, the achievements of its monetary policy objectives are rendered difficult.Dr Subba Rao had to face many an embarassing situations from the thoughtless utterances of the DG on RBI's policies is a fact reported in media. Perhaps Dr Chakraborty is the only exception to have played a different role after enteering the Central Bank from a commercial bank.
Dr.T.V.Gopalakrishnan
(This comment appeared in Business standard dated 31/3/14).
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