‘RBI governor didn’t mention risk of Great Depression’
Clarifying on Reserve Bank of India Governor Raghuram Rajan’s recent remarks, the RBI has said a section of the media “mis-characterised” the governor as saying that the world is at risk of a Great Depression.
“What Governor Rajan did say, in his remarks made off the attached written text, was that the policies followed by major central banks around the world were in danger of slipping into the kind of beggar-thy-neighbour strategies that were followed in the 1930s,” the RBI said in a statement late on Sunday.