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

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Congress (I)- Downhill All the Way

credit expansion. The Reserve Bank's pressures were brought upon by the acknowledged to be a "comparatively advice to bankers against valuation of Prime Minister on the Tamil Nadu chief unimportant issue". This could of course collaterals based on future price expectations is no more relevant. Collaterals are always valued at current prices and bankers have neither the expertise nor the willingness to question the price quotations claimed in different purchase and sale transactions by their borrowers. Also, all these steps would be relevant, if at all, for grant of fresh or enhanced credit limits. In a short-term context, it is restraint on use of existing limits that will bo more relevant.

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