Letters: Hard sell for RBI

In your editorial “Stance of silence” (December 19), you have said: “In the end, a central bank’s job is essentially to manage expectations; if it does merely what is expected of it, it may not be seen to be in control.” In this connection, the results of the two surveys of the central bank on inflation expectations and consumer confidence should be of interest. Around two-thirds of the households are aware of the Reserve Bank of India’s (RBI’s) monetary actions. Of them, only about one-fourth are convinced that the Bank is doing the needful. Of the latter respondents, less than 60 per cent feel that its policies have an impact on controlling inflation. The survey was restricted to selected urban areas, probably for operational reasons. One can expect the position to be no better, if not worse, in rural areas. How can the RBI manage expectations if a large segment of the population is either not aware of its actions or not convinced of their effectiveness? It needs to think of some innovative ways of reaching the masses. Could it consider appointing someone like Katrina Kaif or Karishma Kapoor as its brand ambassador?

A Seshan, Mumbai

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