Timely warning from RBI

It couldn’t have been better put. “Occasionally, there are concerns over the government exercising its ownership rights not through the established channel, which is the board mechanism, but outside of board,” RBI Governor Duvvuri Subbarao observed in a speech last Thursday. Nobody missed the allusion to the constant interference, by DK Mittal, secretary, financial affairs, in the running of state-owned banks.

Read Full Story>>