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Reddy sends stern warning to banks
In the credit policy announcement on Tuesday, there was a stern warning for India’s banking sector. The concern seems to be that banks are not provisioning enough even though bad debts are increasing. "In areas of credit deposit ratio, we have been urging banks to curbing credit growth in essence. This is a clear indication that financial sector has to be fall in line," said Y V Reddy, Governor, RBI.
