Letter to BS: Present level of RBI's share capital and reserves is not huge

Interference by finance ministry in the working of Reserve Bank of India is glaring

This refers to the report “Jalan panel seeks to convince Garg to tone down dissent note” (July 2). The message that one member in the Jalan panel is more equal than even the chairman of the panel is disturbing. Viewed from another angle, the report brings out the undercurrents that have been trying to destabilise the Reserve Bank of India’s (RBI) top management since the departure of former governor Raghuram Rajan. In this case, the effort by the finance ministry representative to prevent application of mind by the other members on the Jalan panel, who are professionals, is glaring.

The revaluation