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There Will Not Be a ‘Lehman Moment’ in India: RBI’s Rajan

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India’s central bank governor has said there is no chance of a “Lehman moment” in India. Speaking to CNBC, Raghuram Rajan, the governor of Reserve Bank of India said while there is no banking crisis in India, it is important that banks clean up bad assets.

“There is absolutely no chance we will have a ‘Lehman’ moment,” Rajan said, referring to the collapse of the U.S. bank that triggered a chain reaction which led to the 2008 financial crisis.

“It is about ensuring that the assets are cleaned up and investors have a good idea of the balance sheets of the bank and that process is under way and some banks have cleaned up much faster than the pace that we had set for them,” he added.

CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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