Sucheta Dalal :A Regulator’s Hypocricy
Sucheta Dalal

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A Regulator’s Hypocricy  

April 15, 2013

An RBI deputy governor explains with great clarity the customers’ problems and also the solutions, but prefers to remain passive

Sucheta Dalal

Not long ago, Reserve Bank of India (RBI) deputy governor Dr KC Chakarabarty, triggered widespread outrage, when he seemed to give a clean chit to the three banks caught in Cobrapost’s sting operation exposing their eager willingness to break all the rules to launder a fictitious politician’s black money. Dr Chakrabarty has the customer services portfolio and, under his dispensation, we have seen the RBI rapidly going from a pro-consumer regulator to a callous and indifferent one which refuses to engage with consumers.

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-- Sucheta Dalal