The framework for the exercise of powers in private sector banks is different from the one for public sector banks
It is good that Reserve Bank of India (RBI) governor Urjit Patel has finally broken his long silence. Unlike his predecessors, Patel has been reticent in indicating the thinking of the central bank. While the interviews and speeches of governors and deputy governors work as powerful signalling and reassuring measures—both to the markets and to the general citizenry—the silence has also been an eerie signalling mechanism that was shaking our confidence. It is good now that there is some scope for debate and dialogue.