Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        Interviews | Urjit Patel, former Governor of Reserve Bank of India, interviewed by  Puja Mehra (The Hindu)    </title>
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Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.

In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about..."/>
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Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.

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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.</em></p><p style="text-align:justify">In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about his new book, Overdraft: Saving The Indian Saver, with Puja Mehra in a conversation on invitation from the Pune International Centre. Edited Excerpts.</p><p style="text-align:justify"><em>* What made you decide to write this book?</em></p><p style="text-align:justify">My teacher Professor T.N. Srinivasan used to say that in India our macroeconomic challenges always had microeconomic sources. In the banking sector in India, which I have observed at various distances over the last 30 years, it&rsquo;s the other way round. Our macroeconomic problems have created financial sector crisis periodically. The current banking challenge is the most intractable one even before COVID. We have a tendency to make a premature pronouncement of victory over any challenge that we desire to solve. We get tired very quickly. Look at our fiscal policy &mdash; from very high levels of fiscal deficit we would have a couple of years of very modest declines. So, from a very high level we could go to a slightly lower high level and everyone says, &lsquo;Oh, we have now had too much fiscal consolidation so let&rsquo;s go back to our usual norm&rsquo;. Ditto for bad debts. This does not lead to good outcomes; it just accentuates problems by storing them up.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece" title="https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece">click here</a> to read more.</p><p style="text-align:justify"><strong>Image Courtesy: PTI</strong></p>                                                           
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.</em></p><p style="text-align:justify">In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about his new book, Overdraft: Saving The Indian Saver, with Puja Mehra in a conversation on invitation from the Pune International Centre. Edited Excerpts.</p><p style="text-align:justify"><em>* What made you decide to write this book?</em></p><p style="text-align:justify">My teacher Professor T.N. Srinivasan used to say that in India our macroeconomic challenges always had microeconomic sources. In the banking sector in India, which I have observed at various distances over the last 30 years, it&rsquo;s the other way round. Our macroeconomic problems have created financial sector crisis periodically. The current banking challenge is the most intractable one even before COVID. We have a tendency to make a premature pronouncement of victory over any challenge that we desire to solve. We get tired very quickly. Look at our fiscal policy &mdash; from very high levels of fiscal deficit we would have a couple of years of very modest declines. So, from a very high level we could go to a slightly lower high level and everyone says, &lsquo;Oh, we have now had too much fiscal consolidation so let&rsquo;s go back to our usual norm&rsquo;. Ditto for bad debts. This does not lead to good outcomes; it just accentuates problems by storing them up.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece" title="https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece">click here</a> to read more.</p><p style="text-align:justify"><strong>Image Courtesy: PTI</strong></p>                                                           
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        Interviews | Urjit Patel, former Governor of Reserve Bank of India, interviewed by  Puja Mehra (The Hindu)    </title>
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Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.

In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about..."/>
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     <meta property="og:description" content="-The Hindu

Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.

In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about..." />
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    <h1 class="cat-box-title">Urjit Patel, former Governor of Reserve Bank of India, interviewed by  Puja Mehra (The Hindu)</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.</em></p><p style="text-align:justify">In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about his new book, Overdraft: Saving The Indian Saver, with Puja Mehra in a conversation on invitation from the Pune International Centre. Edited Excerpts.</p><p style="text-align:justify"><em>* What made you decide to write this book?</em></p><p style="text-align:justify">My teacher Professor T.N. Srinivasan used to say that in India our macroeconomic challenges always had microeconomic sources. In the banking sector in India, which I have observed at various distances over the last 30 years, it&rsquo;s the other way round. Our macroeconomic problems have created financial sector crisis periodically. The current banking challenge is the most intractable one even before COVID. We have a tendency to make a premature pronouncement of victory over any challenge that we desire to solve. We get tired very quickly. Look at our fiscal policy &mdash; from very high levels of fiscal deficit we would have a couple of years of very modest declines. So, from a very high level we could go to a slightly lower high level and everyone says, &lsquo;Oh, we have now had too much fiscal consolidation so let&rsquo;s go back to our usual norm&rsquo;. Ditto for bad debts. This does not lead to good outcomes; it just accentuates problems by storing them up.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece" title="https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece">click here</a> to read more.</p><p style="text-align:justify"><strong>Image Courtesy: PTI</strong></p>                                                           
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Urjit Patel, former Governor of Reserve Bank of India, interviewed by Puja Mehra (The Hindu)

Published on Aug 30, 2020   Modified on Aug 31, 2020

-The Hindu Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor. In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel spoke about his new book, Overdraft: Saving The Indian Saver, with Puja Mehra in a conversation on invitation from the Pune International Centre. Edited Excerpts. * What made you decide to write this book? My teacher Professor T.N. Srinivasan used to say that in India our macroeconomic challenges always had microeconomic sources. In the banking sector in India, which I have observed at various distances over the last 30 years, it’s the other way round. Our macroeconomic problems have created financial sector crisis periodically. The current banking challenge is the most intractable one even before COVID. We have a tendency to make a premature pronouncement of victory over any challenge that we desire to solve. We get tired very quickly. Look at our fiscal policy — from very high levels of fiscal deficit we would have a couple of years of very modest declines. So, from a very high level we could go to a slightly lower high level and everyone says, ‘Oh, we have now had too much fiscal consolidation so let’s go back to our usual norm’. Ditto for bad debts. This does not lead to good outcomes; it just accentuates problems by storing them up. Please click here to read more. Image Courtesy: PTI

The Hindu, 30 August, 2020, https://www.thehindu.com/news/national/the-current-banking-challenge-is-the-most-intractable-one-even-before-covid-19-urjit-patel/article32478756.ece

Tagged with: Covid-19 Coronavirus RBI Reserve Bank of India Urjit Patel Banking Non-Performing Assets NPAs Insolvency and Bankruptcy Code

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