Friday, September 11, 2009

Reserve Bank of India: Economy not reverting to trend yet

The Indian economy is unlikely to revert to its trend growth rate soon as recession in advanced economies would eat into global growth and world trade, Reserve Bank of India (RBI) deputy governor Usha Thorat said on Friday, September 11, 2009. Thorat, speaking in Hyderabad, said draft guidelines for repurchase agreements (repos) in corporate bonds would be posted shortly on the central bank's website. As well, the central bank was looking at allowing banks to issue long-term bonds with incentives for investors so banks could better manage their asset and liabilities, she said. The RBI expects the economy to grow about 6 per cent in the financial year ending March 2010.

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