Raghuram Rajan, the renowned economist and former governor of Reserve Bank of India, and Viral Acharya, a former deputy governor of RBI, have said criticized the RBI Internal Working Group’s recommendation to allow Indian corporate houses to set up banks as part of proposed changes to the banking sector. The economists said the proposal is a “bad idea”. In a note published on Monday on LinkedIn, they said: “It will further exacerbate the concentration of economic (and political) power in certain business houses.” In this episode of the Editorial our Managing Editor Mr Sujit Nair shares his take on the matter.”
#RBI #AllahabadHC #RaghuramRajan #ViralAcharya
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