CPI-based inflation has remained over 6% for last 2 quarters. With NPAs also expected to rise significantly, RBI could focus on financial stability this time.
The Indian govt & the RBI launched many schemes to ensure availability of credit during Covid, but financial institutions are still cautious about new lending.
In an address to the CII, Das stressed the need for alternative sources of infra financing, and pushed for early completion of FTAs with US, UK and EU.
RBI has already finalised an agreement to extend a $400 million currency swap facility to Sri Lanka, but its President Gotabaya has asked for $1.1 billion more.
The currency swap arrangement put in place due to the ongoing Covid crisis will remain available till November 2022, said the Indian mission in a press release.
In his book, Quest for Restoring Financial Stability in India, the ex RBI deputy governor lists the ongoing challenges to RBI’s independence and how markets can ensure it.
The rift centered around February 2018 circular issued by RBI, which forced banks to immediately classify borrowers as defaulters when they delayed repayments.
Kanoria said the special liquidity window announced by the Modi government for NBFCs has not helped Srei, adding that banks are still reluctant to lend.
Two questions are pertinent: Why does the Trump administration keep making the same mistakes on the peace proposal? And what does a hurried peace plan mean on the ground?
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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