Interviews 27 April 2018
Former deputy governor of the Reserve Bank of India (RBI) R Gandhi doubts the claims of MSMEs owners who blame the government policies, particularly demonetisation and GST, for slowdown of their businesses. He says that those who cite these two policies as reason behind a drop in their revenues are the ones who want to avoid paying taxes. He also disagrees that demonetisation still has an impact on the economy in general and MSMEs in particular after six quarters.
Gandhi was in charge of the crucial tasks of currency management and banking operations at the time of demonetisation. He retired from the RBI in 2017 with over three decades of experience in monetary policy and macroeconomics.
He spoke to Parichit Mainra of SME Futures on the problems in credit access for MSMEs, regulating the fintech industry, demonetisation, FRBM Act and cash crunch in the economy.