Modi’s Cashflow Woes Just Got More Bearable

Modi’s Cashflow Woes Just Got More Bearable

(Bloomberg) — Facing cash flow problems just months before a national election, India’s Prime Minister Narendra Modi could have a savior in the country’s new central bank chief. India’s spending is exceeding its revenue, leaving the government looking for funds to help an ailing banking sector — key to boosting loans and investment and creating jobs. Finance ministry officials estimate the Reserve Bank of India has at least 3.6 trillion rupees ($50 billion) more capital…

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