The writer is a senior fellow at the Centre for Social and Economic Progress, and a former executive director, Reserve Bank of India. The views are personal
Recent studies have estimated climate finance requirements of EMDEs at $1-4 trillion per year up to 2030, which is seen as daunting, leading to even less action than might have been possible
Anticipating the current liquidity deficit, the RBI in its December policy proactively reduced the cash reserve ratio (CRR) of all banks in two equal tranches of 25 basis points