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Why has RBI become the punching bag of India?


It is now the turn of the CAG to accuse the Reserve Bank of irresponsibility. The present CAG, while speaking at the launch of the Indian School of Public Policy, has questioned the role of the RBI, in the present banking crisis and has demanded to know, as to what was the banking regulator doing, when the banks went berserk, mindlessly lending huge amounts of money, which has resulted in the humongous NPAs and the asset/liability mismatch in the banking system. The question is why is the RBI becoming the punching bag of the government? Mr. Akhilesh Bhargava, Business Editor of HW News Network shares his insights on the matter.

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