Business

Did the government help Shaktikanta Das sneak out of ‘Padma Vyuha’?

By Dan Neff

Governor Das may not want to ‘rock the boat’ as he approaches the shore, but it’s still a liquidity flood out there.

Synopsis

Almost every Reserve Bank of India governor has had his best of times and worst of times at the Mint Road. But few suffered such misfortune as Duvvuri Subbarao did. He marched to global central bankers’ beat to open the liquidity tap and slash interest rates after Lehman Brothers imploded in 2008.

Mumbai: Almost every Reserve Bank of India governor has had his best of times and worst of times at the Mint Road. But few suffered such misfortune as Duvvuri Subbarao did. He marched to global central bankers’ beat to open the liquidity tap and slash interest rates after Lehman Brothers imploded in 2008.

Come March 2020, the situation for Shaktikanta Das was no different with the pandemic leading to convulsions in the financial markets and the

BY

ET Bureau

5 mins read, Last Updated:

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Dan Neff