ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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RIOTS-Routine Manoeuvres

authorities much sooner? This is a question that has not been answered satisfactorily. Not so far. Janakiraman and his colleagues have not even attempted an answer. According to the committee, between April 1991 and June 1992, the interbank securities transactions spurted by three times. Also, the bulk of these transactions, and possibly the spurt, was accounted for by four foreign banks and a handful of domestic banks. And still the monitoring authority did not receive the signals which could alert it that something was going awry.

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