INSUBCONTINENT EXCLUSIVE:
but at the same time try to maintain a balance on cooperation and communication between Mint Street and the North Block
Speaking at the India Economic Conclave 2018, he said policies, not individual, are key things one should focus on.
Acknowledging the steps
taken by RBI and outgoing governor Urjit Patel, he said RBI did a commendable job in dealing with the NBFCs, with prompt corrective action
and in dealing with private banks
financial system and RBI undertook some strong steps toward reforms in 2018
government, which according to him, must be used only for restoring the financial system, recapitalising banks and that too only if reforms
money must not be used for regular financing of the deficit or other expenditures and should be done cooperatively, and not unilaterally, by
the government or RBI.
On the crisis in the NBFC space, the former CEA said there was a risk of excessive lending
He underlined the five 'Rs' - recognition, resolution, recapitalisation, reform and regulation - as propounded by him earlier for resolving
Talking on the subject, he said the issue will find place in political manifestos in 2019 elections
