Mr. Y V Reddy,Former Governor of the Reserve Bank of India.
While speaking to CNBC-TV18’s Latha Venkatesh, He said :
The domestic factors lent some defence against global distress. It was domestic demand that led to
The duration and severity of crisis is still unknown to the world.
The policy measures taken in
Barring a few, most companies and households are not excessively leveraged and the government balance sheet's forex exposure is insignificant. Forex assets and manageable current account gap, he said, provides comfort to the external side.
“The whole approach to banking has changed. Banking is more like a public utility. Now, once you say that banking is more like a public utility there are two things that comes out—two options—either it is publicly owned or privately owned but rigorously controlled, rigorously regulated.”
“So, ultimately if the capital has to be found for the banking sector, it has to be firm. But to say that, you have to find a capital at any cost is inviting possible problems and very serious problems”
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