According to Rajan, government must take necessary action to keep bankruptcy courts unclogged with small cases and debt resolutions have to take place out of court, with the shadow of bankruptcy essentially acting as an ultimate threat for promoters and bankers.
I think those are always weapons you have in the armoury, but it is important, and this is one place where we have made a very important move since the last crisis. It's very important that the RBI continue to signal as it has done so far; its concerns about keeping inflation on track, about raising interest rates, whenever appropriate to fulfil its inflation objective and that gives investor confidence that the rupee is not going to go into free fall. As ultimately, inflation will be under control and the rupee can get significantly undervalued, if it continues falling at these rates." Watch the video now for full Details:
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