It’s not known what a new governor at Mint Road does in his first few hours after taking over office, but if as economist Alice Rivlin said, “the job of the central bank is to worry”, Shaktikanta Das the 25th governer of the Reserve Bank of India’s (RBI) in Mumbai will have plenty of it. Ask Duvvuri Subbarao, former RBI governor, to suggest a way out of the current impasse, and he says: “The way forward is to take corrective actions because the credibility of the central bank is important.”
First of all, the RBI’s stated positions on a raft