If it ain’t broke… Lest all this sound like an unthinking defence of regulatory turf, let me add that there are places where the RBI could give up powers. For instance, if the government wants to manage its own debt, there is no reason for the RBI to stand in the way.
2  BIS central bankers’ speeches  The Board is also considering a third area, namely Hubs, or specifically the question of whether there needs to be greater use of centralised architecture for clearing and settlement of retail payments. This is a particular issue in Australia, because many of our payments systems are built on bilateral links between institutions.