[ NOTED ECONOMIST VOODOO SEN :-) ] "...The RBI governor revealed that this solution struck him after he noticed that both the dollar and a kilogram of onion were moving in tandem towards the Rs.100 mark while he was peering over market data. “After that, the solution pretty much unraveled itself in my mind,” a teary eyed Rao told The UnReal Times. “Anyway, with people now preferring to transact in onions rather than rupee notes, especially those carrying the signature of Dr. Manmohan Singh, the move was inevitable,” he added.... ....Incoming RBI governor Dr. Raghuram Rajan has however criticized his predecessors’ move, terming it as extreme and unwarranted. “All Subba Rao had to do to resurrect the rupee was to have Sharad Pawar endorse the US dollar,” he said and left it at that." :-)
Posted on: Thu, 22 Aug 2013 16:58:56 +0000
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