Is the creation of another Bretton Woods institution on the agenda?
Very difficult to say we can invent another Bretton Woods institution. What we’re trying to do is improve global governance and global oversight over these financial institutions. I don’t expect that we will have another Bretton Woods type of institution. That’s my view. Given global trends, aren’t Indian interest rates too high? That’s a question that the Governor of the RBI has to answer. And I think he has given his answers on October 6, October 10, October 24, and October 31. He will respond as the situation develops. I can’t give an answer to that. And about India’s credit growth rate? I’m not targeting any growth of credit. It is growing at 29 per cent today. If it is non-inflationary growth, we don’t have to worry about the credit growth rate. That is what Dr Bimal Jalan said in a recent interview. We have to juxtapose the rate of credit growth with inflation. If the growth is non-inflationary, then we can accept the current credit growth, but it depends upon its impact on infla
