Skip to main content

Why Raghuram Rajan does not deserve a second chance for RBI governorship

Media is all going wild these days with speculations and support for a second term for RBI Governor. But many groups in social media are mobilizing support for him for gains that are totally contrary to interests of our nation.

Under his stewardship, banks have had their worst performances, primarily for his policies to encourage loans to corporates with strong political connections. Loans were disbursed by banks without proper compliance and procedure, leading to huge losses. It is such forces which now want him to continue. So as to keep encouraging such practices.

For those who feel, he being out of government is a good sign, look at how bank licenses have been issued. RBI still doles out licenses on a whim and in a very miserly fashion. A modern outlook demands that licenses should be offered on tap but no, the Governor didn't encourage that.

Look at the overall customer service in the banking industry. Its pathetic, largely because RBI does not encourage banks to be people friendly. It should be the role of a regulator to encourage such policies which are beneficial to consumers.

As a whole, if you see, the banking sector is performing extremely poorly today and I had written two blogs on this previously as well.


People should be prudent and research well, before blindly believing into the section of social media who wants further exploitation of the banking sector. This they believe would benefit the rich and powerful.

 In fact, the only positives happening from the Jan Dhan Yojna or action against NPA accounts, is coming out from prodding by the Government of India.



Labels:

Comments

Post a Comment

Also read

Mrs Dalloway by Virginia Woolf

Why does Mrs Dalloway still speak to you after a hundred years? A human reading of Virginia Woolf’s novel A reflective and thoughtful review of Mrs Dalloway that explores why Virginia Woolf’s modernist classic continues to resonate. From memory and mental health to love, regret, and time, this article examines characters, themes, context, and craft while questioning whether the novel still challenges and comforts today’s reader. Why does a novel about one ordinary day linger in your mind for years? This long form review of Mrs Dalloway explores through its quiet power. You will find analysis, critique, history, and personal reflection on why this book continues to unsettle and comfort readers alike. Can a single ordinary day hold an entire life? Have you ever reached the end of a day and wondered where it went, and more unsettlingly, where you went within it? That question sits at the heart of Mrs Dalloway , Virginia Woolf’s 1925 novel that dares to suggest that the smallest moment...
Post a Comment
Read more

Spill the Tea: Noor and the Silence After Doing Everything right

Noor has done everything she was supposed to do — moved out, built a life, stayed independent. Yet beneath the neat routines and functional success lies a quiet emptiness she cannot name. Part of the Spill the Tea series, this story explores high-functioning loneliness, emotional flatness, and the unsettling fear of living a life that looks complete from the outside. The verandah was brighter than Noor expected. Morning light lay flat across the tiles, showing every faint scuff mark, every water stain from old monsoons. The air smelled of detergent from a neighbour’s washed curtains flapping overhead. On the table, the paneer patties waited in a cardboard bakery box I’d emptied onto a plate. A squeeze bottle of ketchup stood beside it, slightly sticky around the cap. Two cups of tea, steam already thinning. In one corner, a bamboo palm stood in a large terracotta planter. Thin stems. Too many leaves. Trying very hard to look like it belonged indoors. Noor sat down and pulled the chair ...
Post a Comment
Read more

Why do we crave bookshops when life falls apart? A deep reading of Welcome to the Hyunam-dong Bookshop

This article reflects on Welcome to the Hyunam-dong Bookshop by Hwang Bo-reum, a gentle novel about burnout, healing, and second chances. Through Yeong-ju and her quiet community, the book reminds you that meaning often returns slowly, through books, people, and ordinary days that begin to feel like home again. Why do so many of us secretly dream of walking away from everything? At some point, usually on a crowded weekday morning or during yet another meeting that could have been an email, you wonder if this is all there is. You did what you were told. You studied, worked hard, built a career, stayed responsible. And yet, instead of contentment, there is exhaustion. Welcome to the Hyunam-dong Bookshop begins exactly at this uncomfortable truth. Hwang Bo-reum’s novel does not shout its intentions. It does not promise transformation through grand revelations. Instead, it sits beside you quietly and asks a gentler question. What if the problem is not that you failed, but that you nev...
Post a Comment
Read more