Central bankers have become new superheroes, says Anshu Jain

Indian-origin eminent banker Anshu Jain today said the world has become over-reliant on central bankers and it is time political leaders and industrialists do their bit to improve the global monetary situation.

Mr Jain is co-chairman of European banking major Deutsche Bank.

"The central bankers have become the new superheroes. But in some time we need to take the burden away from them and political leaders and business leaders need to share the burden" and do their bit to ease the monetary and liquidity situation, he said at the annual meeting of World Economic Forum.

Participating in a panel discussion on whether no growth and easy money have become the new normal, Mr Jain said the world needs an investment climate that has policy and regulatory certainty. Talking about the recent rally in equity markets and whether 2013 would be the year of equity, he said the fundamental factors have been there to drive the surge in the last six months.

"However, corporate earnings have to go up in some time to justify the equity prices," he further said.

Asked about lessons learnt from the crisis, he said the biggest lessons have been learnt by the banks and much stricter regulations have been put in place that had become a must.