It is good to see the top man at Reserve Bank of India (RBI) who in lighter vein made a comment related to CRR and we quote as below:
It is very rare to come across such humour which can make anybody laugh as CRR is an evil which is a must for our monetary system.I have appointed a committee to debate whether to do away with the cash reserve ratio (CRR)....The members of that committee are Dr Chakrabarty and Pratip Chaudhuri. Both of them will be locked up in a room, will not be released until they have reached a conclusion, and the timeframe is that they will not submit their report before my term as governor is over.
