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Need Money For College? The regulation or control of credit for the specific purposes or branches of economic activity is termed as selective or qualitative credit control.
2); Regulation of consumer credit;
4); Rationing of credit;
7); Direct action.
Direct action refers to the coercive measures adopted by the central bank against a defaulting commercial bank or other financial institutions, whereas moral suasion refers to the central bank’s moral influence and power of persuasion.
The method of direct action is most extensively used by the central bank to enforce both quantitative as well as qualitative credit control. Direct action against the erring banks may take different forms namely:
1); Refusal by the central bank or rediscount for such banks;
2); The commercial banks find it very difficult to control the ultimate use of credit by the borrowers.
6); Direct action would tend to place the central bank in a position of assuming responsibility for the management of commercial banks.