Reserve Bank of India Governor Bimal Jalan on Friday said that there was no dearth of liquidity in financing the infrastructure projects in the country.
However, such long-term financing needs a viable commercialised model of transferring investors' funds into projects, Jalan said while releasing the third 'India Infrastructure Report' prepared by the Infrastructure Development Finance Company.
Earlier, talking to reporters on the sidelines of the function, the Governor said that he was happy with the growing inflow of foreign currency funds into the country.
But he indicated that there was a problem in managing liquidity in the system.
"I am happy with the higher foreign exchange reserves... but such high reserves sometimes cause problem of management," he quipped.
He also ruled out any cut in the repo in the near future and maintained that the softening interest rate policy initiative of RBI would continue.
IDFC Managing Director Nasser Munjee said that the report had focussed on the 'Governance of Commercialisation,' particularly after the completion of projects. The project deliberated on the government's way of spending public funds and its accountability.
The report has made an effort to evolve a design of financing the projects and also the role of governance by the authority, he added.
UNI
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