When Don Corleone promises, he delivers. So does the RBI. But, one is a fictional character and the other is the regulator of the Indian banking system. When both delivered, one became a priceless contribution to global cinema and the other bumped up India’s outstanding external commercial borrowing (ECB) by $29 billion to $223.8 billion in December 2019, which alone constitutes 40% of India’s total external debt.
Banking analyst Hemindra Hazari mentions in his report ‘Unhedged Portion of ECBs: One More Threat to C