Duration: 12M 28S Likes: 147 DisLikes: 1 Rating: 9.93 / 10
Views: 23750 Description: "I am not a doom and gloom guy," says RBI Governor Raghuram Rajan in Davos where he adds that the current market situation is very volatile. The RBI chief speaks about what policymakers are concerned about, saying "China slowdown, a cause of worry". He however says that India is in the process of recovery and limits of certain policies are worrying. Rajan ticks off the rich by saying, "This is an issue about the wrongdoers amongst the community who raised the cost of borrowing for everybody. This is saying if we can get those guys to behave." He adds, "I think on the banks we are in process of cleaning them up, we spent quite some time giving them the powers to take actions, now that they have those powers, they have a lot of flexibility on dealing with loans." He also speaks on fixing India's banks and falling commodity prices. Mr Rajan is very hopeful of the Indian economy and believes that India will lead in years to come.
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