Chart-1: Asset Quality has been consistently improving 9.23  8.32  3.66  Sep' 19  7.45  2.88  Mar' 20  7.33  6.97  2.1  2.43  2.27  Sep' 20  Mar' 21  Sep' 21  GNPAs (%)  NNPAs (%)  Source: RBI Supervisory Returns; Data for Mar-22 is provisional.
References are frequently made to the Chilean experiment and their careful use of controls over short-term capital inflows. Concerns about a possible prolongation of the current crisis through a devaluation of the Chinese renmimbi are assuaged through reference to the fact that China still has capital controls.