RBI governor warns against non-inclusive growth

November 16, 2012 21:19

Reserve Bank of India Governor D Subbarao today warned against "casino banking" that has over-financialised the real economy, and called for inclusive growth to quell the growing disenchantment of the public.

"A growth process that increases inequity lacks durability, and indeed even legitimacy, eventually threatening the economic and social stability. Evidence in support of this is overwhelming -- the Occupy Movement of the past year being just the latest manifestation of the discontent associated with inequitable growth," Subbarao said at a seminar.

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