BUS18
Business/Business 'India's
financial system is strong and healthy'
Lead Mumbai, Oct 24 IANS This in a nutshell is what
Reserve Bank Governor D. Subbarao had to say: - Global
financial system is in a
crisis of unprecedented dimensions. - India's
financial sector is stable and
healthy.
Indian banks have been affected only peripherally... - India's balance of payments continues to reflect strength and resilience in a highly unsettled
international environment. - Widening gaps in the physical infrastructure, markedly in power but elsewhere too except in
coal production, could impose a binding constraint on growth. - Our
financial system is strong and
healthy, and our economic fundamentals are strong. Once the global situation is managed and calm and confidence are restored, we
will return to our higher growth trajectory. --Indo-Asian
News Service tb 141
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