RBI Governor would like to wait till Budget before taking any action on rate front.
'Then why should people like us face this inconvenience?'
'My wife has done everything... She has had to give up a lot,' HRD Minister Prakash Javadekar tells Sahil Makkar.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 per cent, while other banks including market leader SBI have indicated that they would follow suit.
Indians waiting patiently in serpentine queues outside Mumbai banks tell Rediff.com's Syed Firdaus Ashraf they are ready to suffer for the larger good of the country.
The government may delay Rs 14,000 crore (Rs 140 billion) fund infusion in the public sector banks in view of volatile market conditions.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
RBI Governor has been under pressure from Finance Ministry.
At least five state-run banks on central bank's radar for lax credit appraisal
.jpg)
Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
The biggest problem is that those with Aadhaar numbers aren't coming forward for seeding these with bank accounts.
.jpg)
Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
.jpg)
With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
The public-private partnership model is a compulsion, says the minister.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances