MUMBAI: Outgoing RBI governor D Subbarao on Thursday came down strongly on the attempt by certain sectors to attribute volatility to 'misbehaving markets' .
The financial markets on their part responded extremely positively on Thursday to the RBI's move to lend dollars to state-owned oil companies. The rupee's gain from its historic low of 68.83 on Wednesday bolstered equity markets with the sensex rising 405 points.
The governor also took a direct dig at finance minister P Chidambaram who in October 12 very vocally expressed his disappointment with the governor for not abiding by his call for a rate cut. The FM had said that "if the government has to walk alone to face the challenges of growth, we will walk alone". Subbarao said that "I do hope Chidambaram will one day say: 'I am often frustrated by RBI, so frustrated that I want to go for a walk, even if I have to walk alone. But thank God, the Reserve Bank exists'."
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