India: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India

March 18, 2009

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India: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India, (USA: International Monetary Fund, 2009) accessed November 24, 2024

Summary

India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are putting it under strain. The staff report for India’s 2008 Article IV Consultation discusses economic developments and policies. The authorities have already taken numerous welcome measures in response to the crisis. The Reserve Bank of India has been quick in reversing its policy stance and the reductions in interest rates, the cash reserve ratio, and the statutory liquidity requirement together with stepped-up open market operations have been fully warranted.

Subject: Banking, Commercial banks, Credit, Financial institutions, Foreign exchange, Loans, Money, Public debt

Keywords: Commercial banks, Commercial paper, Contraction, CR, Credit, Deficit, East Asia, Eastern Europe, GDP, Global, ISCR, January export, Loans, Month-on-month terms, Rate, U.S. dollar rate, WPI inflation

Publication Details

Pages:

81
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/187
Stock No:

1INDEA2009002
ISBN:

9781451818666
ISSN:

1934-7685

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