Rakesh Mohan: Economic growth, financial deepening and financial inclusion Address by Dr Rakesh Mohan, Deputy Governor of the Reserve Bank of India, at the Annual Bankers' Conference 2006, Hyderabad, 3 November 2006. This draws heavily on my earlier lecture on a similar subject at the FICCI-IBA Conference in Mumbai on 26 September 2006. * I.
Furthermore, it would not be right to treat retained earnings as anything but new equity capital as part of a socalled “distribute-recapture” policy. However, I do see problems with the interpretation of foreign direct investment when taking a look at short-term loans and trade credits. True, these credits count as FDI.