RBI-govt spat: Uneasy calm prevails as both sides seek to cool down temperatures, but rift far from over
6 years, 1 month ago

RBI-govt spat: Uneasy calm prevails as both sides seek to cool down temperatures, but rift far from over

Firstpost  

At the RBI board meeting on that day, neither side actually blinked on the issue of transferring reserves from the RBI to the government’s accounts In the Cold War era, they called it détente : but 19 November was not for the first time that there was an easing in the strained relations between the Reserve Bank of India and the government. At the RBI board meeting on that day, neither side actually blinked on the issue of transferring reserves from the RBI to the government’s accounts; the risk of another face-off between the government and the central bank hasn’t been lowered. Four key points emerged: a committee would examine an economic capital framework for the central bank; a certain amount of additional relief for small borrowers would be considered by restructuring SME loans up to Rs 25 crore; a possible review of the prompt corrective action framework would be undertaken by the BFS, and the deadline for banks to meet the capital conservation buffer requirement under Basel III norms would be extended till 2020. The ECF is about arriving at a formula that will decide how much of the RBI’s ‘profits’ should be transferred to the government every year without compromising the financial strength of the central bank.

Bank Economic Loans Capital Crore Central Rbi Pca Npa Npas Bfs Ecf 19 November  spat  temperatures  cool  seek  economic  central  loans  rs  capital  prevails  uneasy  far  small  bank  rift  crore  npas  sides  rbi  rbigovt

History of this topic

RBI expresses optimism about Indian economy, gross NPA at 12-year low, GDP to grow at 6.6 per cent
2 weeks, 2 days ago

RBI expresses optimism about Indian economy, gross NPA at 12-year low, GDP to grow at 6.6 per cent

India TV News  

The Reserve Bank of India on Monday said that the bank's asset quality improved further and their gross non-performing assets or bad loans ratio declined to a 12-year low of 2.6 per cent in September 2024. "Buoyed by falling slippages, higher write-offs and steady credit demand, the gross nonperforming assets ratio of 37 scheduled commercial banks fell to a multi-year …

RBI signals cautious optimism on growth-inflation balance
1 month, 1 week ago

RBI signals cautious optimism on growth-inflation balance

Live Mint  

The Reserve Bank of India’s monetary policy on 6 December voted 4:2 to keep the policy repo rate unchanged at 6.50%. After the October ’24 inflation data came in at over 6%, the RBI revised the FY25 inflation forecast to 4.8% from 4.5% in its Oct ’24 policy. Liquidity infusion and rate cut prospects Persistent FPI outflows and RBI intervention …

DC Edit | RBI’s booster shot to economy
7 months, 3 weeks ago

DC Edit | RBI’s booster shot to economy

Deccan Chronicle  

The Reserve Bank of India transferred a whopping amount of Rs 2.1 lakh crores to the Central government as a dividend payout, giving a booster shot to volatile stock markets. The current payout is 141 per cent higher than the ₹87,416 crores that the RBI had given the Central government last year and is Rs 1.1 lakh crores more than …

Welcome bounty: On the RBI’s ₹2.11-lakh-crore transfer to the Union government
7 months, 3 weeks ago

Welcome bounty: On the RBI’s ₹2.11-lakh-crore transfer to the Union government

The Hindu  

The decision by the Reserve Bank of India’s board to transfer a record surplus of almost ₹2.11 lakh crore to the Union government for 2023-24 will serve as a welcome shot in the arm for the new government when it presents its Budget in July. More than double the previous year’s ₹87,416 crore payout as well as the ₹1.02 lakh …

RBI may buy $18 bn of bonds to boost liquidity, says B. Prasanna of ICICI
1 year, 7 months ago

RBI may buy $18 bn of bonds to boost liquidity, says B. Prasanna of ICICI

Live Mint  

The Reserve Bank of India may buy nearly $18 billion of government bonds to replenish banking liquidity that’s expected to tighten later in the year, according to a report by Bloomberg. The central bank may cut the cash reserve ratio by half a point in the second half of the fiscal and start buying bonds in the December quarter to …

RBI lifts loan costs to tame inflation
1 year, 11 months ago

RBI lifts loan costs to tame inflation

The Hindu  

The Monetary Policy Committee of the Reserve Bank of India on Wednesday raised the benchmark lending rate by 25 basis points to 6.5% as the RBI targets persistently high core or underlying inflation that it sees as a risk to the improving outlook for the economy. Observing that the rate increases since May were still working their way through the …

RBI Bulletin: Big bang Approach To PSB Privatisation May Do More Harm Than Good
2 years, 4 months ago

RBI Bulletin: Big bang Approach To PSB Privatisation May Do More Harm Than Good

ABP News  

A big bang approach to privatisation of state-run banks may do more harm than good, according to the latest Reserve Bank of India bulletin released on Thursday. The RBI’s paper showed some of the major reasons that public sector banks can serve the country better than private banks include better financial inclusion, better credit system, and better efficiency of the …

RBI eases overseas borrowing to spur forex inflows
2 years, 6 months ago

RBI eases overseas borrowing to spur forex inflows

The Hindu  

The Reserve Bank of India on Wednesday announced a slew of temporary measures aimed at boosting foreign exchange inflows, including a doubling in the overseas borrowing limit for eligible corporates and removal of interest rate ceilings for NRIs’ foreign currency deposits. “It has been decided that with effect from the reporting fortnight beginning July 30, incremental FCNR and NRE deposits …

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman
3 years, 11 months ago

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman

News 18  

Finance minister Nirmala Sitharaman on Monday told the News18 Network that the government had engaged with the Reserve Bank of India in a “big way” as she outlined a timeline for meeting divestment targets set in her Budget 2021 speech. Speaking to News18 Network’s Editor-in-Chief Rahul Joshi, the finance minister said that the country needs efficient banks for the economy …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget less than a week away, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross non-performing …

India considers creating bank with $13.7 billion equity capital to fund roads
4 years ago

India considers creating bank with $13.7 billion equity capital to fund roads

Hindustan Times  

India is considering a proposal to create a bank to help fund port, road and power projects as Prime Minister Narendra Modi’s administration aims to lift Asia’s third-largest economy out of the recession. India faces the challenge of boosting spending on productive assets that aid economic growth after being forced to direct the bulk of stimulus last year on the …

Sobering assessment: The Hindu Editorial on RBI’s annual report
4 years, 4 months ago

Sobering assessment: The Hindu Editorial on RBI’s annual report

The Hindu  

Three weeks after its monetary policy committee decided to hold fire on interest rates amid accelerating retail inflation, the Reserve Bank of India has forecast more pain for the economy. Its assessment of the economic landscape and its prognosis for near-term prospects posit a stark picture: of demand hollowed out by the severe shock to private consumption, public finances strained …

RBI keeps key policy rates unchanged
4 years, 5 months ago

RBI keeps key policy rates unchanged

The Hindu  

The Reserve Bank of India kept its powder dry in the third review of the monetary policy since the COVID-19 pandemic spread in the country, leaving key policy rates unchanged in the face of rising inflation pressures but asserted that propping up economic recovery has assumed “primacy” in the “worst peace-time health and economic crisis of the last 100 years”. …

RBI payout may slump in disappointment for markets, fund says
4 years, 6 months ago

RBI payout may slump in disappointment for markets, fund says

Live Mint  

Bond traders pinning their hopes on a larger-than-budgeted central bank payout to Prime Minister Narendra Modi’s government may be in for a disappointment, according to Quantum Advisors Pvt. The Reserve Bank of India will probably transfer as much as ₹60,000 crore for the year to June 30, sticking with estimates unlike last year when the payment was almost double the …

RBI Governor Shaktikanta Das asks banks to raise capital in advance, build buffers to ensure credit flow
4 years, 6 months ago

RBI Governor Shaktikanta Das asks banks to raise capital in advance, build buffers to ensure credit flow

The Hindu  

As the COVID-19 outbreak has caused unprecedented uncertainties and exposed the country’s financial system to vulnerability, the Reserve Bank of India has asked lending institutions to conduct periodic “Covid stress tests” on their balance sheets to always remain alert and take timely action to raise capital and mitigate the risk as the economic outlook remains uncertain in the medium term. …

Govt reassures state banks it is ready to provide capital support; coronavirus pandemic may lead to surge in bad loans
4 years, 9 months ago

Govt reassures state banks it is ready to provide capital support; coronavirus pandemic may lead to surge in bad loans

Firstpost  

The government may need to make a provision of at least Rs 20,000-25,000 crore for capital infusion in state-run banks New Delhi/Mumbai: The government has assured state banks it is ready to provide capital support as the coronavirus pandemic may lead to a surge in bad loans when economic growth is slowing, three government and banking sources told _Reuter_s. “The …

A battered IndusInd Bank lays bare RBI’s financial stability challenge
4 years, 9 months ago

A battered IndusInd Bank lays bare RBI’s financial stability challenge

Live Mint  

India’s private sector banks are facing their toughest test yet with a virus outbreak putting their earnings at risk, even as the collapse of a peer bank raises questions on deposits. The bank’s stock dropped 15% on Tuesday after the lender revealed in an investor call that it has lost 10-11% of its deposits since Yes Bank Ltd crumbled earlier …

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI
5 years ago

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI

Firstpost  

The PSBs need to build stronger buffers to absorb any disproportionate operational losses, while private lenders need to focus on corporate governance, the RBI said. Mumbai: India’s financial system remains stable even after economic growth plummeted to a six-year low, the Reserve Bank of India said on Friday. “Reviving the twin engines of consumption and investment while being vigilant about …

Former RBI governor C Rangarajan says banks recapitalisation should be done through cash
5 years, 1 month ago

Former RBI governor C Rangarajan says banks recapitalisation should be done through cash

Firstpost  

Former RBI governor C Rangarajan on Friday suggested that recapitalisation of banks should be done through by infusing cash rather than issuing Bonds, as he cautioned that Boards of public sector undertakings, including banks, should maintain “arms length” from the Government Hyderabad: Former RBI governor C Rangarajan on Friday suggested that recapitalisation of banks should be done through by infusing …

Opinion | An easy surrender of the country’s economic defences
5 years, 4 months ago

Opinion | An easy surrender of the country’s economic defences

Live Mint  

The global economy is admittedly in a strange place and even the usually reliable experts are struggling to decode an evolving economy and the central bank’s place in it. To address this new normal, we are conducting a public review of our monetary policy strategy, tools, and communications.” Coincidentally, the same day Lawrence Summers and Anna Stansbury published a Project …

RBI plays white knight to cash-strapped govt
5 years, 4 months ago

RBI plays white knight to cash-strapped govt

Deccan Chronicle  

The Reserve Bank’s decision to transfer Rs 1.76 trillion to the government as surplus follows the “golden mean” principle, often used by committees. What the committee conveniently ignored was that as of June 30, 2019 the Contingency Risk Buffer level had already increased to 6.8 per cent — see the RBI Press Note of August 26, 2019. The existing Budget …

RBI’s profit more than trebles in 2018-19 on lower expenses
5 years, 4 months ago

RBI’s profit more than trebles in 2018-19 on lower expenses

Live Mint  

Reserve Bank of India’s profit for 2018-19 more than trebles to ₹1.76 trillion owing to lower expenditure and higher other income, which has enabled a higher surplus transfer to the government. Simultaneously, other income rose nearly 20 times on a y-o-y basis to ₹86,199 crore after the central bank wrote back excess provisions from balance sheet to the profit and …

RBI’s ₹1.76 trillion transfer to government to be balance sheet neutral
5 years, 4 months ago

RBI’s ₹1.76 trillion transfer to government to be balance sheet neutral

Live Mint  

Mumbai: The transfer of the Reserve Bank of India’s surplus to the government will not require the central bank to sell assets and won’t shrink the size of its balance sheet, a person aware of the development said. The person also said that finance secretary Rajiv Kumar, the government’s nominee on the Bimal Jalan committee, wanted RBI’s surplus, or the …

Government should use RBI funds in a prudent manner
5 years, 4 months ago

Government should use RBI funds in a prudent manner

The Hindu  

After a long tug of war, the government has eventually had its way with the Reserve Bank of India, managing to get it to part with a portion of its accumulated reserves. The RBI board, on Monday, decided to transfer a massive ₹1,76,051 crore to the government, including a sum of ₹52,637 crore from its contingency reserve built over the …

RBI can pay interim dividend to govt in exceptional cases: Jalan panel
5 years, 4 months ago

RBI can pay interim dividend to govt in exceptional cases: Jalan panel

Live Mint  

Mumbai: A Reserve Bank of India panel, led by former governor Bimal Jalan, has recommended that the central bank pay interim dividend to the government, a practice that started in 2016-17, only under exceptional circumstances. The Jalan committee has also recommended that RBI’s capital framework be reviewed every five years and its accounting year be aligned with the fiscal year …

Opinion | An RBI war chest that could see off a crisis
5 years, 4 months ago

Opinion | An RBI war chest that could see off a crisis

Live Mint  

The transfer of ₹1.76 trillion by the Reserve Bank of India from its coffers to the government does several important things. For one, it settles an argument over how much money RBI needs to keep for itself; the central bank says it has gone along with the recommendations of an expert panel headed by former RBI governor Bimal Jalan. One …

Is RBI's Rs 1.76 lakh crore payout to govt to boost fledgling economy?
5 years, 4 months ago

Is RBI's Rs 1.76 lakh crore payout to govt to boost fledgling economy?

India Today  

The government's long-term demand for more money from RBI was fulfilled on Monday. The Reserve Bank of India transferred Rs 1.76 lakh crore, including Rs 52,600 crore of excess capital to the central government account. Where this payout comes from The windfall gain of Rs 1.76 lakh crore from RBI to the government is the outcome of framework change. Last …

RBI to transfer surplus of Rs 1.76 lakh crore to the government as per Bimal Jalan Committee recommendation
5 years, 4 months ago

RBI to transfer surplus of Rs 1.76 lakh crore to the government as per Bimal Jalan Committee recommendation

Op India  

The Reserve Bank of India has decided to transfer an amount of ₹1,76,051 crore to the Government of India. The central bank took this decision by accepting the recommendations of Bimal Jalan Committee on surplus transfer to the government. The ₹1.76 lakh crore to be transferred consists of ₹1,23,414 crore of surplus for the year 2018-19 and ₹52,637 crore of …

RBI Board meeting today to finalise annual accounts, to take up Bimal Jalan committee's recommendation
5 years, 4 months ago

RBI Board meeting today to finalise annual accounts, to take up Bimal Jalan committee's recommendation

Firstpost  

The RBI follows a July-June financial year and the dividend is usually distributed in August after annual accounts are finalised The Bimal Jalan committee’s recommendations on Economic Capital Framework along with the dividend payment to the government may be taken up in the Reserve Bank of India board meeting to be held today, sources said. Sources had earlier told IANS …

RBI Board meet on Monday to mull over Jalan panel report
5 years, 4 months ago

RBI Board meet on Monday to mull over Jalan panel report

India TV News  

The RBI Board meeting on Monday to finalise its annual accounts is also likely to take up the Bimal Jalan panel's recommendations on Economic Capital Framework along with the dividend payment to the government, sources said. Sources had earlier told IANS that the RBI may start transferring the first tranche of the surplus this calendar, based on the Jalan panel …

Bimal Jalan panel to submit report to RBI soon; suggests transfer of cental bank’s surplus capital in tranches over 3-5 years
5 years, 5 months ago

Bimal Jalan panel to submit report to RBI soon; suggests transfer of cental bank’s surplus capital in tranches over 3-5 years

Firstpost  

The six-member panel, under former RBI governor Jalan was appointed on 26 December 2018, to review the economic capital framework for the RBI. The six-member panel, under former RBI governor Jalan was appointed on 26 December 2018, to review the economic capital framework for the Reserve Bank of India after the finance ministry wanted the central bank to follow global …

Opinion | Need a strategy that goes beyond interest rates
5 years, 5 months ago

Opinion | Need a strategy that goes beyond interest rates

Live Mint  

The factors that are slowing growth are piling up. Simply put, the liquidity problems in India’s non-banking financial companies are not going away any time soon, and gross domestic product growth is slowing due to a long list of domestic and international challenges. “Credit-less” recoveries are generally considered rare around the world given that it’s hard to fund growth without …

Proposed Rs 70,000-cr capital infusion into public sector banks credit positive, to boost economy: S&P
5 years, 6 months ago

Proposed Rs 70,000-cr capital infusion into public sector banks credit positive, to boost economy: S&P

Firstpost  

The capital infusion will help some banks to come out of the central bank’s prompt corrective action and resume lending and clean up their balance sheets, she added. New Delhi: The proposed Rs 70,000-crore capital infusion into public sector banks will provide a timely booster to these lenders, S&P Global Ratings has said. “We believe the capital infusion will help …

Government considering giving more powers to RBI to regulate NBFCs: Sitharaman
5 years, 6 months ago

Government considering giving more powers to RBI to regulate NBFCs: Sitharaman

India TV News  

The government is considering strengthening the Reserve Bank's regulatory and supervisory powers over the non-banking finance companies, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. The central bank, she added, has also informed that with a view to strengthen the NBFCs and maintain the stability of the financial system, it has been taking necessary regulatory and supervisory …

RBI Financial Stability Report: There is good news and bad news, but where is the plan of action?
5 years, 6 months ago

RBI Financial Stability Report: There is good news and bad news, but where is the plan of action?

Firstpost  

The Financial Stability Report is a very important document on the financial sector as it analyses threadbare the overall state of the various segments as well as highlights the risk-related issues that have been identified which can cause potential challenges. The FSR is happy with the state of the banking system as the gross non performing asset ratio is 9.3 …

Bimal Jalan panel on RBI's capital size again defers report submission deadline till Budget next month
5 years, 6 months ago

Bimal Jalan panel on RBI's capital size again defers report submission deadline till Budget next month

Firstpost  

The six-member panel, under former RBI governor Jalan, was appointed on 26 December, 2018, to review the Economic Capital Framework for the RBI New Delhi: The Bimal Jalan committee, which is looking into the size of capital reserves that the RBI should hold, Monday again deferred its report submission deadline till Budget next month. The six-member panel, under former RBI …

Jalan panel report on RBI’s capital size to be finalized by June-end: Guv Das
5 years, 6 months ago

Jalan panel report on RBI’s capital size to be finalized by June-end: Guv Das

Live Mint  

The Bimal Jalan committee, which is looking into the size of capital reserves that the RBI should hold, will have one more meeting before finalising its report to be submitted to the apex bank this month-end. The six-member panel, under former RBI Governor Jalan, was appointed on December 26, 2018, to review the economic capital framework for the Reserve Bank …

Budget 2019: Government likely to allot Rs 30,000 crore to PSU banks
5 years, 6 months ago

Budget 2019: Government likely to allot Rs 30,000 crore to PSU banks

India Today  

The government is likely to allot Rs 30,000 crore to public sector banks in the upcoming full budget 2019 as they have been struggling to meet the minimum regulatory capital requirement. Newly appointed finance minister Nirmala Sitharaman, who will be presenting the full budget on July 5, is expected to make an announcement about the provision-a move experts feel is …

Former governor Bimal Jalan panel on RBI's Economic Capital Framework to submit report next month
5 years, 8 months ago

Former governor Bimal Jalan panel on RBI's Economic Capital Framework to submit report next month

Firstpost  

The six-member Jalan panel was appointed on December 26, 2018 to review the Economic Capital Framework for the RBI New Delhi: A high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, is likely to submit its report next month. The six-member Jalan panel was appointed on …

Finance ministry expects three to four more lenders to come out of Reserve Bank's PCA framework this year
5 years, 10 months ago

Finance ministry expects three to four more lenders to come out of Reserve Bank's PCA framework this year

Firstpost  

The recent capital infusion of Rs 48,239 crore in 12 PSBs will help Corporation Bank and Allahabad Bank to come out of the PCA framework in the next few weeks New Delhi: The finance ministry expects three to four more lenders to come out of weak bank list of the Reserve Bank in the next six to eight months on …

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth
5 years, 11 months ago

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth

Firstpost  

Mumbai: In a significant move, the Reserve Bank of India on Thursday lifted lending curbs on three out of 11 weak public sector banks as the central bank under new Governor Shaktikanta Das met one of the key demands of the government for boosting credit growth. “It has been decided that BoI and BoM which meet the regulatory norms including …

RBI accountable to govt, differences must be resolved internally in country’s interest: Bimal Jalan
6 years ago

RBI accountable to govt, differences must be resolved internally in country’s interest: Bimal Jalan

Firstpost  

The government also wants the RBI to release more liquidity to the shadow banking sector and relax its provisioning norms for banks. New Delhi: The Reserve Bank of India is accountable to the government and should make policies within the framework set by the government, according to a former central bank chief now heading a panel tasked with framing guidelines …

RBI is accountable to the government, says Bimal Jalan
6 years ago

RBI is accountable to the government, says Bimal Jalan

Live Mint  

New Delhi: The Reserve Bank of India is accountable to the government and should make policies within the framework set by the government, according to a former central bank chief now heading a panel tasked with framing guidelines for the transfer of the RBI’s surplus funds to the government. Bimal Jalan, the 77-year-old ex-bureaucrat, was appointed to chair the panel …

Govt says not considering giving more powers to RBI to deal with state-owned banks
6 years ago

Govt says not considering giving more powers to RBI to deal with state-owned banks

Firstpost  

The powers of the RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, including public sector banks, said Minister of State for Finance Shiv Pratap Shukla in the Rajya Sabha New Delhi: The government is not currently considering any proposal to give more powers to the Reserve Bank of India to deal with …

Govt decision to infuse Rs 41,000 crore capital into state-run banks will help them lower NPAs: Report
6 years ago

Govt decision to infuse Rs 41,000 crore capital into state-run banks will help them lower NPAs: Report

Firstpost  

With this round, the overall capital infusion into state-run banks during FY15-FY19 stands at Rs 2.56 trillion. Mumbai: The government decision to infuse Rs 41,000 crore more capital into the state-run banks is positive for these lenders as it will help them lower their losses on dud loans, says a report. “The government decision to upsize the bank recapitalisation plan …

Govt seeks ₹41,000 crore more for bank recapitalisation
6 years ago

Govt seeks ₹41,000 crore more for bank recapitalisation

Live Mint  

New Delhi/Mumbai: The government on Thursday sought Parliament’s approval for supplementary grants worth ₹ 41,000 crore to infuse fresh capital into ailing state-run banks in the current fiscal. With the additional ₹ 41,000 crore of capital infusion by 31 March, the government will be infusing a total ₹ 83,000 crore into public sector banks this year. “This entire exercise will …

Govt to infuse Rs 83,000 cr in public sector banks in next few months: Arun Jaitley
6 years ago

Govt to infuse Rs 83,000 cr in public sector banks in next few months: Arun Jaitley

Firstpost  

The recapitalisation will enhance the lending capacity of state-owned banks and help them come out of the RBI’s Prompt Corrective Action framework, Arun Jaitley said. New Delhi: The government on Thursday said it will enhance the capital infusion in public sector banks to Rs 83,000 crore, taking the total to Rs 1.06 lakh crore for the fiscal. The capital will …

Facts, No Fiction: There’s a new sheriff in RBI
6 years, 1 month ago

Facts, No Fiction: There’s a new sheriff in RBI

Op India  

This week has been a roller coaster ride, from high profile extradition cases, the resignation of the RBI governor and the results of recent assembly elections. That being said, it is well acknowledged that India has one of the tightest of monetary policies and that too at a time where inflation seems to be significantly lower than even RBI’s estimates. …

India's growth 'very solid', important for govt to pay heed to RBI's message on financial stability: IMF Chief Economist
6 years, 1 month ago

India's growth 'very solid', important for govt to pay heed to RBI's message on financial stability: IMF Chief Economist

India TV News  

India's growth over the past four years has been 'very solid', said IMF's Chief Economist Maurice Obstfield on Sunday. "But as the government is trying to better oversee the banking system, these loans have migrated to shadow banking and that is an area where more needs to be done to contain financial pressures, which we are beginning to see in …

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