ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Jan Sangh Bides Time

Pairavi or Policy ? IT is now clear that the Reserve Bank is in two minds about its role as the manager of money and credit, but the schizophrenia does not bother it at all. The question where New Delhi's authority ends, and the Bank's prerogative begins is not allowed to surface at Mint Road, which is sold on expediency designed to appease New Delhi. In the event, the approach of November 1, which marks the commencement of the busy season, has not found the Reserve Bank in the grip of policy reappraisal. Instead, it is concerned with such momentous issues as the likely impact of relaxation of P-Form regulations and liberalisation of foreign exchange allocation for business travel.

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