It may be of interest to many observers that the RBI is contemplating working groups or initiation of work on technical papers on some subjects. These relate to (a) directed lending; (b) current account facility; (c) clearing and settlement system and (d) regulatory and supervisory arrangements, and (e) lenders obligations and liability.
Directed lending While there are widespread reservations about directed lending, in a developing country like India, there is need for some sort of directed lending, especially to agriculture, small-industry and export sector. No doubt, directed lending is not the same as subsidised lending.