The article reads well and well argued against RBI  but it is totally one sided is what I feel. The need to make RBI accountable is well taken but how to make it accountable when its so called autonomy is only on paper and it is made to dance to the tunes of politicians, bureaucrats and  it gets questioned  every now and then by all when something against the bureaucracy or media or political philosophy is expressed directly or indirectly by the top management through their speeches and otherwise. The author should have  and could have done full justice to her write up by probing into the working of RBI and understanding well  as to what extent it is allowed to have operational autonomy in its day to day functioning.  No doubt some Governors with their diplomatic skills and taking advantage of political connections, and command over the bureaucracy could appear to be functioning as if the Institution has full autonomy, but some had miserably failed and had to leave despite their intellectual supermacy , mastery over the subject of Economy, Finance and Management. RBI despite all short comings has earned a reputation for its professionalism in keeping the Financial System free from turbulence and  unsoundness. The problem seen in NBFCs is not RBIs' making is a well established truth and as long as political  and bureaucratic interfrence is there in the functioning of any well meaning Institution , I feel your well intended objectives cannot be achieved. The fact that  RBI has  punished  the erring banks and saved  the depositors  from catastrophe is   well known to the learned public and how RBI fails at times is also well known to all Intellectuals of this nation. The need to make RBI totally independent and making it  accountable to the parliament and public is  paramount and definitely the need of the hour.Hope this article will  help to generate an intellectual debate and help RBI to have its autonomy in true sense of the term. 

Dr T V Gopalakrishnan

This comment is given in response to an article on "RBIs' Accountability questionned" that appeared in Money Life.