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Trade deficit balloons, RBI cracks the whip

The goods trade deficit soared to a record high in October and, though it is likely to moderate over the coming months, the overall current account deficit will probably come in a bit wider than we had been expecting this year. Meanwhile, the RBI's decision to tighten restrictions on unsecured lending may weigh on growth in the near term, but should help to protect the long-term health of the banking sector.

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