India Business News: Mumbai: RBI governor Shaktikanta Das said offline accessibility, which is in the works, will make the digital rupee an attractive choice for retail us.
Former RBI Governor Subbarao calls for reforming and reinventing Indian civil services, highlighting the need to restore integrity and professionalism. He emphasizes the significance of political neutrality and a cooling-off period for officials entering politics to uphold democracy.
There is one thing that sets India apart from the US: the respect the political class in India, cutting across party lines, has for RBI. Unlike in the US, where it s not uncommon for politicians, including Donald Trump, to take potshots at the Fed head, here, one can t recall a single instance when an RBI governor has been insulted. Certainly not publicly.
2G Scam Case: The former central bank Governor asked, "If a democratically elected government decides to forego revenue in order to serve the larger public good of deepening telecom penetration, is it open to the CAG to substitute his own judgement for the government s and call it a presumptive loss ?".
In his new book Just A Mercenary?: Notes from My Life and Career , Subbarao wrote at length on his role in the decision-making on the pricing of the 2G spectrum, an issue that later ballooned into a huge controversy for UPA-2 government.