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The reporting system has been in place for years and is not a new provision taken in the wake of the move to recall the Rs 2,000 notes, according to Livemint.
Even in colonial India, the demand for an independent voice of the RBI had always been very strong. However, the RBI’s voice has been missing for quite some time, particularly since demonetisation, when there were several claims that the regulator was not consulted meaningfully.
In theory, the move may appear as a small “RBI monetary policy measure”. But in a ‘jobless-poor investment’ growth trajectory, how does the timing appeal to sound economic policy or thinking?