On the new RBI Governor….

On the new RBI Governor

On 4^th September 2013 the new Governor Raghuram Rajan joined RBI in place of outgoing Governor D Subbarao. I had conveyed my views on the topic to a few financial dailies like Financial Express, Business Standard and Economic Times.Here is one such letter to the Editor:

Dear Sir, This refers to your main headline: “Guv Rajan launches financial reforms 2.0 ” (FE 5^th September 2013).

“Raghupati Raghav Raja Ram” (sometimes called ‘Ram Dhun’) is a popular bhajan (Hindu devotional song) that was a favourite of Mahatma Gandhi and was sung by Gandhi and his followers as they walked during the long 241 mile Salt March to Dandi.

Now the reigning deity of the season and the favourite chant of the common man is Raghuram G Rajan, the new RBI Governor, who is expected to lead the country from near oblivion towards the long march towards light at the end of  depressing tunnel. He has a major trilemma before him: (a) stabilizing the falling rupee, (b) taming the demon of high inflation and (c) boosting economic growth.His academic background, scholarly credentials and past performance records have raised high hopes. Here is wishing him all the best and let us pray by re-iterating the last line of Gandhiji’s bhajan: “sab ko sanmati de bhagwan.” (Translation: Bless everyone with real wisdom! )- J S BROCA, NEW DELHI

Some of my letters are still to be published. My letter to ET is displayed on its web-page and can be seen via following link:

http://economictimes.indiatimes.com/usrmailcomment_v1.cms?msid=22330501&mailon_commented=1&usercommentid=18724875#toreply18724875

You will have to scroll down the page to see  my comment posted on 5^th Sept and there have been several more comments on the topic. My comment begins thus:

Dear Sir, This refers to your main headline:’Seven steps by Raghuram Rajan that propelled Sensex above 19,000′ (ET 5th September 2013).The new Governor seems to have made a good beginning.

Here is wishing the NEW GOVERNOR, ALL THE BEST!!