Get People and their Economic activities connected to banking.

The Indian banking is weak because of dominance of informal economy, inequality of incomes and wealth, laxity of Governance at various levels of administration and presence of middlemen, indigenous bankers, money lenders and NBFCs of all kinds. The banking scenario is changing fast and middle class who save in banks have no money to save because of all sorts of taxes which do not seem to be getting accounted anywhere other than to those who levy them. The banks also lose heavily because of their dependence on Technology , Non human approach, and not understanding the customers. The taxation policies of the government and the ease of doing business are not favouring or encouraging any one to attract to any economic activity. The data collection in the country is erroneous and do not seem to be reflecting the correct position of employment, generation of economic activities and productive assets. Banks can thrive only if people and their economic activities get  fully connected to banking. 

Dr T V Gopalakrishnan

India needs politicians to develop strong Institutions

Very forthright views well brought out by Iyer. Politicians cannot appreciate and they do not want to appreciate to have strong institutions as they come in their way of free and easy funds as and when needed. PSBs are a source of funds to meet social obligations and to have continued support by allowing crony capitalism. Dr Rajan intelligently attempted to stop these which was not taken in right spirit by the politicians in power who have their own axe to grind. politicians are always shrewd and professionals' intelligence and expertise cannot be tolerated by them. Dr Rajan lacked diplomacy to handle the politicians and bureaucrats because of his lack of professional experience in indian context as some of his predecessors and this cost him heavily though professionally he is not a loser .The loss is for india and its financial system. 

Dr T V Gopalakrishnan

(This comment appeared in ET against the article this government has shot itself in the foot).

Even high ranked professionals should know the political minds

A very balanced view reflecting the in and out of the PMs office.Compared to Dr Y V Reddy, Dr Rajan perhaps lacked the diplomacy to understand the politicians' mind and act. That is because of his long absence in India and lack of experience being in Indian Administrative Set up. Any way Dr Rajan should have been allowed to continue based on his, brilliance and expertise as an Economist and professional performance and achievements brought to the Financial System in his very short stint as Governor of RBI irrespective of his personal liasoning with the political and administrative set up. Definitely the country lost an Expert's skill in handling the murky and complicated financial system. His frank and open opinions have not been taken in the right spirit by certain political masters, is a fact and it is a lesson for all professionals to seriously ponder before they accept a senior Government assignment. Their life becomes miserable if they fail to dance to the tunes of the politicians in power.

Dr T V Gopalakrishnan
(This comment is in response to an article the numbers RBI Governor did not get : 282 in 2014 that appeared in First Post dated 22/6/16)

Even high ranked professionals should know the political minds

A very balanced view reflecting the in and out of the PMs office.Compared to Dr Y V Reddy, Dr Rajan perhaps lacked the diplomacy to understand the politicians mind and act. That is because of his long absence in India and lack of experience being in Indian administrative set up. Any way Dr Rajan should have been allowed to continue based on his, brilliance and expertise as an Economist and professional performance and achievements brought to the Financial System in his very short stint as Governor of RBI irrespective of his personal liasoning with the political set up. Definitely the country lost an Expert's skill in handling the murky and complicated financial system.

Dr T V Gopalakrishnan
(This comment is in response to an article the numbers RBI Governor did not get : 282 in 2014 that appeared in First Post dated 22/6/16)

A very balanced views reflecting the in and out of the PMs office.Compared to Dr Y V Reddy, Dr Rajan perhaps lacked the diplomacy to understand the politicians mind and act. That is because of his long absence in India and lack of experience being in Indian administrative set up. Any way Dr Rajan should have been allowed to continue based on his, brilliance and expertise as an Economist and professional performance and achievements brought to the Financial System in his very short stint as Governor of RBI irrespective of his personal liasoning with the political set up. Definitely the country lost an Expert's skill in handling the murky and complicated financial system.

Dr T V Gopalakrishnan
(This comment is in response to an article the numbers RBI Governor did not get : 282 in 2014 that appeared in First Post dated 22/6/16)

No one is indispensable but,

No one is  indispensable including the NDA Government and its veteran MPS. But a performer and a non performer needs to be identified and discriminated. Just because Dr Rajan was appointed by the UPA Government and he was brought in by Mr Chidambaram then Finance Minister who happens to be the enemy of the present Government , Rajan should leave his post does not stand reason and sound decent and it only smacks of intolerance of a person who is a friend of the enemy. Dr Rajan is a professional and  an expertise having excelled in his field of economics and Finance with international recognition and his continuance as Chief of the Central bank of the Country carries image and  only adds  weight for the economy in the international markets . The Government in power  cannot  afford to be so narrow minded and  encourage  personal vendetta and  prejudices against a person who has an outstanding record par excellence and has been doing a commendable job with wonderful results to be very proud of as a growing economy with all sorts of complexities. The loss is substantial and it may take some time to make up provided an equally competent person comes and takes on the challenges.  All said, a highly talented professional cannot take political side when he performs his responsibilities occupying a sensitive post.  

Dr T V Gopalakrishnan

An Honourable and glorious exit Well Done Dr Rajan

Dr Rajan has taken the right decision to quit. Better to be away from politicians as otherwise one will lose ones' personal integrity, individuality and dignity. This is what happened to Dr M M SINGH a great academician well known Economist and a professional of very high calibre.If he had retired after his first term as PM, history would have treated him kindly and honourably. Being part of politics, he lost all his  glory of academic and other professional achievements in public perception at least. Now Dr Rajan will be remembered for his short stint as the Governor of the Reserve Bank of India and the excellent contribution he made to the economy and the financial system as well.  His decision to quit without waiting for an extension to keep himself away from politics and  be back in academia leaving all the glories of being attached to an institution which has no autonomy or independence from political powers is really marvellous and a great lesson to those  who care for values in life more than anything else . Good that he right royally decided to quit making many to ponder particularly  by a few bright minds  among the political class. No glory or fame at the cost of personal dignity and self respect  is worth having is what Dr Rajan has demonstrated with his present decision. Dr Rajan came,conquered and left after leaving a permanent impression on his professional achievements and personal values worth recalling for ever. He created his own history to be recorded in Golden Letters  in the history of RBI as and when written in the future.

Wish him the very best for all his future ventures with his bright and unique ideas.

Dr T V Gopalakrishnan