Ajit Ranade: RBI owes the public an explanation for its exorbitant dollar deposit scheme
· livemint.com
Central banking often demands difficult choices made under uncertainty. However, good institutions earn trust by explaining their actions clearly. RBI owes us a cost-benefit analysis of its swap window that drew $127 billion plus.
Then there is the liquidity problem. These dollar inflows, converted to rupees, have contributed to a record surplus of close to ₹10 trillion in the banking s...