When the world sends scores of billions of dollars of investment each year, they expect global norms of transparency and accountability to be observed. How India – or China – is administered internally does not matter a great deal to them, although it will be reflected in economic performance. However, the central bank is a sacred space. Much better advice ought to have been tendered on how this delicate relationship required to be managed. It must have taken a lot to have pushed Dr Urjit Patel to walk out.
When the world sends scores of billions of dollars of investment each year, they expect global norms of transparency and accountability to be observed. How India – or China – is administered internally does not matter a great deal to them, although it will be reflected in economic performance. However, the central bank is a sacred space. Much better advice ought to have been tendered on how this delicate relationship required to be managed. It must have taken a lot to have pushed Dr Urjit Patel to walk out.