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

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SECURITY FORCES-Enforcing Accountability

by only 5.4 per cent against 12.7 per cent in the previous year and even bank credit to the commercial sector has risen by only 8.2 per cent which, though higher than that last year (2.8 per cent), was still moderate compared with the historical rates of increase of 12 to 15 per cent per annum. No doubt the large inflow of foreign funds did generate, in the second half of 1993-94 and the first half of 1994-95, a situation of excess liquidity, but a good part of the liquidity was evidently absorbed by the stock and real estate markets.

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