Viral Acharya, in an interview with ThePrint, says his and Urjit Patel’s dissent, resistance and exits from RBI limited the damage that could have been inflicted on financial stability.
In his book released Friday, Patel also wrote that governments use state-owned banks to pump-prime the economy during slowdowns and are unlikely to let go of this instrument.
Urjit Patel wrote to Arun Jaitley in 2017, pointing out problems of electoral bonds, and said govt had diluted RBI’s monopoly by taking away its exclusive right to issue them.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
Not just the central bank should be allowed to say ‘no’, every other institution should have that right.
Saying yes or no agreeing or disagreeing with the elected government eventually leads to a decision.
If the decision goes wrong who is held accountable? THE ELECTED GOVERNMENT so the one who pays the price must have the final say.
No matter what the result so long as the elected leader is well meaning and credible people will understand his mistakes committed in good faith, so he will come back to power or it could end his political carrier.
While an un-elected decision maker always has the option of going back to his or her earlier carrier.
Not just the central bank should be allowed to say ‘no’, every other institution should have that right.
Saying yes or no agreeing or disagreeing with the elected government eventually leads to a decision.
If the decision goes wrong who is held accountable? THE ELECTED GOVERNMENT so the one who pays the price must have the final say.
No matter what the result so long as the elected leader is well meaning and credible people will understand his mistakes committed in good faith, so he will come back to power or it could end his political carrier.
While an un-elected decision maker always has the option of going back to his or her earlier carrier.