Letters: RBI's concerns

With reference to “Restoring credibility” (April 13), the Reserve Bank of India (RBI) governor’s apprehensions with regard to loan waivers and other critical issues are a good sign to lend a durable credence to the regulatory mechanisms and in its endeavour to make the banking system strong. The fact is that over a period populist measures indulged in by the political class have retarded the growth process, thereby widening the fiscal deficit. Politics can never be good unless the economics to be pursued is also good. Agreed that there are exceptions, but massive loan waivers are something that can severely