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

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Credit Policy and Production

C Rangarajan The rapid growth of bank credit during the last three months raises some important issues. The first question is how the commercial banks were able to extend credit which was way beyond the limits set by the Reserve Bank. The second and the more important issue is whether the policies and criteria followed currently by the commercial banks in determining the extent of credit for individual borrowers will ever lead to achieving the larger objectives of credit policy such as maintenance of price stability.

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