Short circuit

In setting up the secretariat of Financial Stability Development Council (FSDC) office, which will function from North Block, the government found itself short of qualified people to staff it. So it turned to the Reserve Bank of India (RBI) for manpower. Such staff would work in the Council but receive pay cheques from the central bank. RBI had vehemently opposed the creation of FSDC on the ground that it would impinge on its regulatory autonomy, but toed the government line later. This time, however, the central bank politely declined the proposal saying it, too, was short staffed.