Monthly Archives: August 2015

Silent SEBI vs. Raucous RBI

Mostly Economics

Let us start with a story. There were two children in an Indian household. One was “perceived” as this really brilliant type who was really liked by relatives & friends (both in India and abroad). The other was this silent type who was relatively ignored by one and all. As the first one was highly popular, the parents were also pushed into thinking highly of the kid. This constant adulation also led to continuous pressure on the parents to meet first one’s demands and this led to certain frictions as well. But beyond that, it was all hunky and dory. The first one got constant tutoring even from abroad over the years. The second one was nearly ignored barring ensuring the basics but it never really created any trouble over this favoritism.

Years of such thinking and adulation passed. The parents were highly busy and did not have much time…

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RBI-Fly in a bottle

TCA Raghvan in BS summarizes very important incidences regarding independence of RBI.

The best one:

But in the end its independence was best summed up by Y V Reddy (2003 to 2008). Asked about RBI independence he said: “It is totally free – within the limits set by the government.”

More philosophically, I might ask, is a fly in a bottle free or captive?