Monday, November 19, 2018

Finance Minister Jaitley had this to say on liquidity, ahead of RBI meet


Union Finance Minister Arun Jaitley has pitched for the need to ensure that growth must not be throttled by limiting credit and liquidity supply.

His statement comes ahead of Reserve Bank of India’s (RBI) crucial board meeting on November 19.

Speaking at an event, Jaitley a certain level of credit flow as far as entrepreneurs are concerned needs to be maintained.

It comes as finance ministry is likely to ask the central bank to raise liquidity in the system to be able to meet adequate loan demand to bolster growth and encourage job creation.

The finance minister also came in support of the banking regulator’s asset quality review, that had been initiated by former governor Raghuram Rajan.

Finance Minister Arun Jaitley went on to highlight that the asset quality review found Rs 8.5 lakh crore of non-performing assets (NPAs) as compared to Rs 2.5 lakh crore in 2014.

Meanwhile, Finance minister Jaitley also hinted at levies on oil products may be reduced once the tax base increases.</>

The post Finance Minister Jaitley had this to say on liquidity, ahead of RBI meet appeared first on Clipper28 Digital Media.

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