ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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CREDIT POLICY- Loss of Credibility

CREDIT POLICY Loss of Credibility IT is amusing to see the Reserve Bank behaving as if it still had a credible credit policy. It called a meeting of the chief executives of the major scheduled commercial banks last week supposedly to review the trends in the busy season, which ends technically with this month, and to indicate the credit policy for the coming months of what is called the slack season. On the eve of the meeting, it circulated among the bankers an analysis of the expansion of bank credit in the busy season. The purpose was simply to justify the order of the credit expansion which has far exceeded the Reserve Bank's estimates

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