Very glaring revelation to public

Why only Dr Subba Rao paid the price for asserting the RBI 's autonomy. Two Deputy Governors of high repute were not allowed to continue, PSBs were allowed to rotten,the economy was allowed to be slowed down, the NPAs were allowed to accumulate fast, the losses of PSBs  were increased due to heavy write offs, and the taxpayers money was used to make up for the losses of PSBs. Even the RBI retirees were not spared as their updated pension given on par with Central Government was withdrawn for no reason what so ever. Both these FMs had played  havoc with RBI''s autonomy and they  virtually killed the mighty Institution. Now it is the turn of the present Government to make the Institution  its own  department to frame  monetary policy and the work has already begun by making  Dr Rajan to have a forceful exit. The present Government is also after the Reserves painfully built up by the Reserve bank to protect the vulnerability of the rupee and ensure financial and monetary stability  of the country and perhaps these stories would be revealed by Dr Rajan as and when he brings out his book on his short stint at RBI. The Institution is losing its glamour very fast  is  the reality as the bureaucrats and the politicians in power would not like to give any credit for RBI for its  role in strengthening the economy with all its  professional strength. The fight between RBI and the Government is a continuous affair but it has never come to open so far  in such a glaring manner is a revelation to public and it needs to be introspected seriously by the intellectuals,statesman politicians and bureaucrats who love the country more than their ego. Never in the history of RBI such an interference in its functioning  by the Government as it happened during the last ten years. 

Dr T V Gopalakrishnan

Fix black money generation and augment tax revenues.

The Chartered Accountants are the brain behind money laundering and safeguarding black money holders. The source of generation of black money is known to all educated fellows in the country but they have no avenues to bring to the notice of the IT although IT officials are themselves aware of the modus operandi of generating black money in India, Banks are also a party in aiding the people to transfer black money in different ways, The export and imports need to be thoroughly investigated. All educational institutions insist on cash and they are the major sources of black money generation. Professionals ,traders, brokers of all kinds operating in different cities and towns are other sources. Small chit fund operators in all metropolitan area deal only in cash and their clients are whole sale and retail traders engaged in all sorts of commodities.Happy to see that the the IT department has been active to fix the evaders. Instead of their being after salaried class and pensioners earning less than Rs 10 lakhs with some silly queries , their time can be well spent in tracing the cash transactions every where and fix the tax evasion.Once they succeed , the tax collection would get drastically augmented and the people particularly honest category of tax payers would give full cooperation to the Government in fixing the problem of tax evasion and generation of black money.''The readiness is all that matters.'' Dr T V Gopalakrishnan ( This comment appeared in Times of India dated 8/7/2106).