Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
While retail sales at dealerships have suffered the full impact of demonetisation, the growth in wholesale volumes comes as dealers had relatively lower inventory after Diwali in October.
'The big elephant in the room is our misguided view about the rupee.' 'India is scared that if our currency appreciates, who will buy from us. But a breakout is inevitable.'
Saurabh Mukherjea, CEO, Ambit Capital, says he is advising clients to either take a genuinely long-term view on stocks or diversify the portfolio with stocks, bonds and gold for those with a short-term view.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
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