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RBI Governor’s Zero Sibal Moment

Kapil Sibal earned the sobriquet of “Zero Sibal” for saying on National TV that there were no losses due to the 2G spectrum sale by Raja.

Now RBI Governor Subbarao is following Zero Sibal’s footsteps

When asked about the issue of loss incurred by not auctioning the spectrum, Subbarao – who was Finance Secretary between April 30, 2007 and September 4, 2008- is learnt to have said that while there was no loss to the exchequer, even if there was, it was only notional in nature. He said there was no monetary loss in actual terms. “Much depends on perception,” he is learnt to have told the JPC.-from the BS

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