Regulatory transparency still a far cry from instilling public confidence

While RBI's recent move to make the minutes of its Central Board meeting public is welcome, regulators across sectors are generally loath to reveal cost-benefit analyses of their decisions

Would our sense of comfort on bank health improve, if regulators shared with us what they think about their management? Last week, the Reserve Bank of India’s (RBI) decided to place the minutes of the meeting of its Central Board in the public domain. It showed the Board members had discussed the PMC Bank crisis in detail. 

The proposal not only brought another piece of transparency in the way Indian regulators conduct their decision making, to some extent it also helped the public feel the RBI was proactive. However even now, the institution has a lot of catching up to