AIMA convention: RBI shouldn't micromanage, says Jalan

The All India Management Association (AIMA), the national apex body of the management profession in India, held its 40th National Management Convention in Delhi on Thursday 26, September. The event was attended by some of the big leaders of the industry, who discussed several key issues facing the Indian economy currently.

At the convention, though unwilling to comment about Reserve Bank of India (RBIs) recent diktat on zero percent EMI schemes former RBI governor Bimal Jalan told CNBC-TV18's managing editor Shereen Bhan that the central bank should not undertake micro-management of the policy.

"Reserve Bank or the central bank of India should not be in the business of micro-managing," said Bimal Jalan, former governor, RBI

Commenting on the new bank licence issue , Bimal Jalan who heads the High Level Advisory Committee (HLAC) said, the proposed external committee will look into new bank licence applications once RBI completes the basic scrutiny.

"Work is still in progress. The Reserve Bank has received applications. It is doing first round of scrutiny. Then we will see how we go about it," Jalan said at AIMA event here today. Soon after Raghuram Rajan took charge as the 23rd Governor of RBI, he had said that an external committee would be headed by former central bank Governor Bimal Jalan to screen the 26 applications for bank licences.

(With additional inputs from PTI)

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