Indian Central Bank India's government and central bank have been butting heads over things like monetary policy rates, but a nine-hour meeting between the two sides yesterday resulted in "a better outcome than expected," IHS Markit economist Rajiv Biswas told CNBC. The Reserve Bank of India said it had agreed to establish an expert committee to examine how much it should be holding in its reserves. CNBC
They need to expand their reserves because of the risk of bad debt contagion spreading from the Chinese Credit Crunch.