Under the current international financial system, global imbalances are highly likely to persist2 and, unless fresh and powerful proposal for their solution are soon put forward, the world economy may run the risk of lurching once again into a crisis of the global system. Therefore, it is very important to form a strong and sustainable adjustment mechanism to resolve these global imbalances.
Transmission from Policy Rate to Bank Lending Rates in India: Performance The Indian financial system remains bank-dominated, though the share of non-bank finance companies (NBFCs) and markets (corporate bonds, commercial paper, equity, etc.) in overall financing of the economy is steadily rising.