 "reserve bank of india, rbi, currency")
In the journey to state capability, one kind of knowledge that is required is that of “agency architecture”. Government is shaped as a series of organisations, and each organisation requires careful design of its role. While the normal instinct of an official is to amass power and budget, agency architecture is a fascinating subject drawing on ideas about accountability mechanisms, conflicts of interest, and economies of scope and scale. Valuable improvements are afoot at the Reserve Bank of India (RBI) on the design of payments regulation, drawing on knowledge from the field of agency architecture.
Payments is an important and
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