Maybe we can achieve 8.5 per cent in 2007-08 but for 2008-09, we will probably see a slower growth rate, of around 7.5 per cent or maybe even lower if oil prices remain at this level, says Pardip Shah.
The key to whether the current aversion will extend into the long run is whether the government has a plan to deal with both terror and kickstarting key economic reforms.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
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