The finance ministry and FSLRC, in a hurry to resolve minor issues, perhaps ignored the evolution of the role of RBI and the care with which RBI has nurtured the financial sector. Time is not right for dismantling or truncating the RBI which is doing creditably well as is being admitted in several international forums
MG Warrier
The Financial Sector Legislative Reforms Commission(FSLRC)—comprising justice BN Srikrishna, chairman, D Swarup, member convenor, M Govinda Rao, member, JR Varma, member, PJ Nayak, member, KJ Udeshi, member, YH Malegam, member, CKG Nair, secretary—submitted its report to the finance minister in last month.
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