Banking is the next crises for Dr. Rajan
By Neelima Shankar
Sep 18, 2013
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The Central Bank's main role is to ensure the monetary stability, as stated by the RBI Governor, Raghuram Rajan. However he has a big challenge coming his way which is not about the rupee. The next reel downwards in India's money related emergency will hail from the nation's saving money framework. The country cannot afford the building blocks which the government is planning to place on the Indian Welfare state.

The Indian baking system is the backbone for the financing. They get their money from the citizens of the country through saving and current accounts, on which they pay insignificant investment. This money is then given to the Indian government at 8 percent interest.

The result of this manipulation is due to the bank sheets which are bizarre and opaque. Work will be needed on enhancing quality in that generally unglamorous of territories – government data. The most paramount measure is privatization of the country's saving money system.

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