It is all so so ironic. I had written this post questioning the reporting in India’s financial media. They had created all kinds of stories over the newly appointed central bank chief.
It was a post which I least expected to be read. But guess what – not only was it the most widely read but even led to likes on twitter page of the blog. I actually thought would be trolled but got comments from financial media friends that this needed to written!
However, one sees no relent.
There are articles after articles glorifying the whole thing. It is as if Indian central bank is running a competition – Let’s see which article is the most servile/flattery of them all? The winner will get some big undisclosed reward. Printing money is never a problem for the central bank so keep sending your entries!
This exercise has been a continuous one for the last three years but has taken a huge leap in last few days. All kinds of knowledge is being associated with the new central bank chief (and many made to outgoing one) which will threaten all our Gods if they read the financial news from India. They would collectively ask – “How come one person has so many powers, intelligence and track record that none of us collectively have? Who designed this one human being”?
I thought may be one will have to deal with more of such articles for some more time. But I was wrong.
A dear friend pointed this article (released yday on 1 Sep 2016) in a leading financial daily. On reading it, one couldn’t help but blog about it. In this one, another power has been added to Indian central bank head – dealing with climate change!! The connections are so arbitrary and random that one does not know where to look. But then I guess more is to come (or has already come which am ignorant of!!).
There was a time when media was highly critical of all such establishment jobs. Now it has taken a 180 degree turn in being way too adulatory. The west has already made this mistake in the past when its media created gods out of their central bankers. They are seeing the consequences of this very flattery.
I see this ending only one way as of now. One just requests Indian central bank to close this ongoing competition and award the winners. So atleast we get more commentary on Indian economy than just the ever growing powers of chief of Indian central bank.