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RBI governor upbeat over Indian economy
Subbarao expressed his confidence in the economic revival of India. The bank chiefs assured him that they will rise to the occasion and take all steps to support the growth efforts of the RBI and the Central government.
KR KAMATH, chairman and managing director, Allahabad Bank and president, Banker’s Club, Kolkata, extended a warm welcome to the governor of Reserve bank of India Subbarao, who addressed the members of the Banker’s Club, Kolkata on Wednesday.


The Reserve Bank chief, who was earlier the country’s finance secretary, evaluated the causes and effects of the recent worldwide economic turmoil and subsequently emphasised on the Asian crisis and its impact on India’s economy.


His speech highlighted the positive sides of Indian economy like declining inflation rate, reduction in petroleum price etc. He urged the bankers to maintain flow of credit to productive sectors with due regard to liquidity support. Subbarao expressed his confidence in the economic revival of India.


SK Goel, chairman and managing director, UCO Bank extended his vote of thanks to the RBI governor and assured him that the bankers will rise to the occasion and take all steps to support the growth efforts of the RBI and the Central government.
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