They too recognised that in the longrun agriculture was unlikely to sustain first-world living standards and strong growth. But equally clearly it was a wrong turning that delayed our adjustment, our shift to a high-tech globally-integrated economy, by several decades. We pay the price for that now, in at least two ways.
A discussion paper on Introduction of Dynamic Loan Loss Provisioning Framework for Banks in India has been put on the RBI website on March 30, 2012. A comprehensive forward looking provisioning framework based on data collected from select banks in respect of certain segments and system–wide data is being developed.