Letters: A question of control I

This refers to the report “Govt tightens grip on RBI” (December 7). There is nothing unusual or objectionable if, in a democracy, the legislature wishes to have a say in policies that are implemented through various arms of the government. In this context, the government’s concern on the contours of the Reserve Bank of India’s (RBI) staff management is understandable. At the same time, this makes glaringly obvious the anxiety of a government that is losing its grip on governance and is, therefore, attempting to showcase some instances of making its boys obey.

The RBI Staff Regulations, 1948 and HR management of the central bank have stood the test of time and never been a cause of problems for the Centre. RBI’s central boards and governors have been consistently showing the maturity to consult the central government on important matters and, by and large, all finance ministers including the present prime minister have respected the RBI’s autonomy. The current impasse appears to be the result of some misunderstandings at lower levels. The earlier the issues are settled amicably before they affect individual egos, the better.

M G Warrier, Mumbai