Rajan outlines medium-term 'pillars' for improving India's financial system
The Reserve Bank of India (RBI) plans to build measures for improving India's financial system "over the coming quarters" on five pillars, including "clarifying and strengthening the monetary policy framework", governor Raghuram Rajan said on Wednesday.
The RBI also aims to increase the liquidity of financial markets "so that they can help allocate and absorb the risks entailed in financing India's growth" and improve the system's "ability to deal with corporate distress... by strengthening real
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