Revolution at the Margin

Revolution at the Margin Mahajan WHEN the chairman of the State Bank first mooted the idea of setting up a National Credit Council in his statement to shareholders last year, he could not have visualised the shape that the institution was going to take, Dehejia had made the suggestion in the context of the observation that distribution of credit had not followed plan policies and requirements. The proposed Council was to correct this maldistribution. And as he saw it, the Reserve Bank had no place on the Council.