lead editorial notes that the issue needs to be debated.
Government finances are likely to remain under pressure in the medium term. Thus, should the RBI be churning its foreign currency holdings to generate surplus and ease the fiscal pressure? There are limits to the extent such gains can be generated. Additionally, would RBI’s excessive focus on easing fiscal pressure not increase risks to financial stability? Read here If a promoter knows that he can afford not to repay bank loans and buy back his company in the bankruptcy court at a discount with a reduced debt burden, he has a strong incentive to drive his company aground, writes
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Whether the economy could have grown faster now is a matter to be debated in later years.
The question now is whether higher growth in earlier years could have saved us from today’s travails.
Uddalok Bhattacharya sums up
Sajjid Z Chinoysays: Putting the different pieces of the puzzle together, 2021-22 appears to be on course to growing at about 9 per cent less than previously envisioned Indiscrete disclosure has the potential to dent public trust, the bedrock of the banking business, says
Tamal Bandyopadhyay. Bankers, too, may not open their hearts with confidence to the RBI inspectors, lest every word they utter become part of the public discourse.
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