ISSUES AND CONCERNS

NEW DELHI: We all know that Reserve Bank of India, the central bank of the country is a regulatory body, with the consent of Union Government. It cannot do many interventions into the performance of individual banks. However, it has its regulatory and enforcement role as specified in the Reserve Bank of India Act of 1948. RBI generally operates under the overall confines of this Act. Within the constraints of the Act, it can honestly take up role to improve the performance of Indian banks in general. There was this report datelined New Delhi “RBI’s ‘displeasure’ letters warn banks over functioning”. In a bid to push some banks to clean up their act, RBI has been, in recent times, issuing letters expressing its dissatisfaction over their functioning. These letters from Department of Supervision does not take enforcement action. But it has larger implications for individual concerned or the entire institution, especially relating to due diligence in credit appraisal, asset quality agains...

FARM LAWS: ONE YEAR ON: MY WAY OR HIGHWAY- THE DISTURBING IMPASSE Out out brief candle! Life is but a walking shadow, a poor player, that struts and frets his hour upon the stage. And then is heard no more. It is a tale told by an idiot, full of sound and fury signifying nothing.- Shakespeare in Macbeth. In a moment of deep introspection English playwright William Shakespeare had let out his disappointment calling life is ‘just sound and fury signifying nothing’. Come to think of it, it seem to increasingly appear sensible to interpret the hype in some of the events of modern days’ governance especially in India. Over an year ago, on 17th September 2020, Indian parliament passed 3 farm related bills, which were earlier promulgated as ordinance on 5th June 2020. On 27th September 2020, President accorded assent to these bills and gazette notification immediately followed making them as Laws. These laws are 1) The Farmers’ Produce, Trade & Commerce (Promotion and Facilitation) Act 20...