Why the Urjit Patel panel report is deeply flawed

About a century ago, a European statesman is said to have opined, rightly, that war is much too serious a matter to entrust to military men. Fast forward to the here and now, and in the realm of monetary policy that indicates the cost of funds in the banking system, it needs to be rightly asked whether the objective of policy design, its rules and principles, as also the actual mechanics of implementation, should all be decided exclusively by the Reserve Bank of India.

Read Full Story>>