July 19, 2016 7:35 AM

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Banks can't get blanket relief from CBI, CVC actions: Raghuram Rajan

Amid an uproar among bankers for immunity from action by agencies like CBI and CVC, Reserve Bank Governor Raghuram Rajan has disapproved of any blanket relief. He was talking to a select group of journalists in Mumbai . Dr Rajan also said there is lot of frustration about the pace of economic recovery, but attributed it to the two successive droughts, weak global economy and external shocks like Brexit. Given these constraints, performance of Indian economy has been "quite creditable" and prospects of good monsoon as well as structural reforms and macroeconomic stability will accelerate the growth going forward, he added.

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