Thursday, November 13

RBI Bulletin Nov 2008



"India, with its strong internal drivers for growth, may escape the worst consequences of the global financial crisis. Indian banks have very limited exposure to the US mortgage market,
directly or through derivatives, and to the failed and stressed financial institutions. The equity and the forex markets provide the channels through which the global crisis can spread to the Indian system. The other three segments of the financial markets - money, debt and credit markets could be impacted indirectly. Risk aversion, deleveraging and frozen money markets have not only raised the cost of funds for Indian corporates but also its availability in the international markets.
This will mean additional demand for domestic bank credit in the near term. Reduced investor interest in emerging economies could impact capital flows significantly. The impending recession
will also impact on Indian exports.

Even EMEs which do not have direct or significant exposure to stressed financial instruments and troubled financial institutions are
experiencing the indirect impact of the financial crisis, and this impact is by no means insignificant or trivial. Indeed, it could intensify in the months ahead".

- Extract from RBI Bulletin November 2008 ["Lessons from the Global Financial Crisis with Special Reference to Emerging Market Economies and India" - D. Subbarao, Governor, Reserve Bank of India]
Click the links below for the entire bulletin and/or segment breakdown
RBI Statistics
Click here to downLoad:
Reserve Bank of India - Bulletin (November 2008) (full bulletin 17.26MB)
Click here to downLoad: Contents
Click here to downLoad: Editorial Committee
Click here to downLoad: Statement by Dr. D. Subbarao, Governor, Reserve Bank of India on the Mid-Term Review of Annual Policy for the Year 2008-09
Click here to downLoad: I. The Real Economy
Click here to downLoad: II. Fiscal Situation
Click here to downLoad: III. Monetary and Liquidity Conditions
Click here to downLoad: IV. Price Situation
Click here to downLoad: V. Financial Markets
Click here to downLoad: VI. The External Economy
Click here to downLoad: Lessons from the Global Financial Crisis with Special Reference to Emerging Market Economies and India* D. Subbarao

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