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'RBI deserves credit for foreseeing dangers of property bubbles'
The past two years have been difficult for governments and central banks all over the world. Excessive credit expansion and asset price inflation, fuelled by so-called "financial innovations" of dubious value, and a lax regulatory environment led to an accumulation of risk that was not adequately understood and ultimately produced a severe crisis. RBI eases overseas investment norms for telcosIndia