Central bankers have become new super heroes, says Anshu Jain

DAVOS: 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.

"The central bankers have become the new super heroes. 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, Jain said here at the WEF annual meeting.

Participating in a panel discussion on whether no growth and easy money have become the new normal, Deutsche Bank's Jain said the world needs an investment climate that has policy and regulatory certainty.

Jain is the Co-Chairman of European banking major Deutsche Bank.

Talking about the recent rally in equity markets and whether 2013 would be the year of equity, Jain 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 said.

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