Unlike the rest of the world, India is recovering and getting resilient and stronger. This is the best time to put the stabilising effects of monetary policy into action so that the costs to the economy are minimised. Will these monetary policy actions exorcise inflation? The outlook on inflation is tethered to the war in Ukraine.
In total, NAMA purchased loans with a face value of € billion at an average discount of 57 per cent. The transfers of loans to NAMA crystallised losses and led to a need to inject further capital into the banks.