Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Shaktikanta Das Not First Bureaucrat to be RBI Chief, He Must Follow Dharma: Rangarajan

Rangarajan, a former RBI governor, said there is also a need for the Central Statistics Office (CSO) to disclose a few essential details on the recent change in GDP computation.

Mayur Borah | PTI

Updated:December 24, 2018, 6:46 PM IST
facebookTwitterskypewhatsapp
Shaktikanta Das Not First Bureaucrat to be RBI Chief, He Must Follow Dharma: Rangarajan
File photo of former Reserve Bank of India (RBI) Governor C. Rangarajan.

Mumbai: Shaktikanta Das is not the first bureaucrat to be appointed as RBI governor and should follow his "dharma" to protect RBI's autonomy like his predecessors, former central bank Governor C Rangarajan said Monday.

Das should work closely with the government on all the pressing issues, Rangarajan said. "Many Delhi men (bureaucrats) have come to RBI, this is not the first time. Once they take on new responsibility, they have to defend the autonomy of the Reserve Bank," Rangarajan told PTI on the sidelines of an event at the IGIDR here.

He added that this is the "dharma" which former governors, including himself as also D Subbarao, have spoken about in the past. "I do hope that he is able to work out a better understanding between the Reserve Bank and the government without sacrificing in any way the autonomy of the RBI," he added.

Rangarajan, who has also headed the prime minister's Economic Advisory Council, said there is also a need for the Central Statistics Office (CSO) to disclose a few essential details on the recent change in GDP computation.

"CSO is a reputable organisation and it has to come out very clearly as to the methodology it actually adopted in revising the earlier numbers," he said.

Rangarajan said there are questions about the deflator that has been used and also on data on company affairs. He was speaking after the release of Dilip Nachane's book.

The former RBI Governor seemed to suggest that the RBI can look at accommodating other factors if the headline inflation is down. "As so long as you are within the comfort zone, you can look at other objectives. But once the equation goes beyond, then your exclusive focus should be on inflation," he said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 47.40 15.47
Indiabulls Hsg 197.95 14.39
Reliance 1,396.50 1.76
SBI 265.45 3.67
Zee Entertain 264.45 1.85
Company Price Change %Gain
Yes Bank 47.40 15.19
Indiabulls Hsg 197.15 14.03
RBL Bank 289.85 12.32
Tata Motors 138.15 9.82
HUL 2,107.80 1.74
Top Gainers
Company Price Change %Gain
Yes Bank 47.40 15.47
Tata Motors 139.50 10.85
Eicher Motors 20,491.85 6.61
IndusInd Bank 1,340.10 5.15
SBI 265.45 3.67
Company Price Change %Gain
Yes Bank 47.40 15.19
Tata Motors 138.15 9.82
IndusInd Bank 1,339.80 5.13
SBI 265.45 3.73
Bajaj Auto 3,110.30 2.96
Top Losers
Company Price Change %Gain
Vedanta 148.30 -1.07
Grasim 724.55 -0.86
TCS 2,030.95 -0.75
HCL Tech 1,093.05 -0.71
UltraTechCement 4,260.45 -0.58
Company Price Change %Gain
HCL Tech 1,089.45 -1.04
Vedanta 148.15 -1.04
Power Grid Corp 197.70 -0.50
Kotak Mahindra 1,601.00 -0.31
Infosys 769.10 -0.30

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results