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India should get prepared for financial system troubles

Rapid monetary tightening adds to stress for weaker lenders

| India
The Reserve Bank of India seal outside its headquarters in Mumbai: The central bank should establish a team that purchases bonds during times of distress to contain spikes in yields.   © Reuters

Karan Mehrishi is the author of "The India Collective: What India is Really All About" and the forthcoming "The Making of Monetary Policy in India: Imagining the Future."

International Monetary Fund Managing Director Kristalina Georgieva has called India a bright spot "on the otherwise dark horizon," citing its comparatively strong economic performance and structural reforms.

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