This refers to “New order at Mint Road” (December 13). Surprising that the government thought of anyone associated with the highly debatable demonetisation, much less appoint him, to head the Reserve Bank of India. This off-the-cuff monetary misadventure robbed the nation of a chunk of its growth momentum, rendered investment of billions of rupees as non-performing assets, shut down many small businesses and tpushed back job creation. The government ought to be in denial or just naive to make this appointment hot on the heels of losing three major states in the assembly elections, essentially because of demonetisation. With hardly a financial quarter or two left for the Lok Sabha elections, the government needs to understand that even the most capable bureaucrat, pliant or otherwise, cannot pull chestnuts out of the fire when the house is already lit.
R Narayanan Mumbai
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