Raghuram Rajan Defends His Interest Rate Regime, Clean-Up Of Bad Loans | Read
Reserve Bank Governor Raghuram Rajan on Wednesday said that the slowdown in credit growth is not on account of high interest rates, but largely because state-run lenders are saddled with bad loans. Dr Rajan, who last week surprised policymakers and investors by saying that he will not seek a second term as RBI governor, has been criticized in some quarters for not lowering interest rates quickly enough to boost economic growth.
