Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
The government is somehow convinced that selective low-rate lending will stimulate demand and accelerate economic growth that plunged to a four-year low of 4.4 per cent in the first three months of 2013-14.
'Narendra Modi has had very good luck. Firstly, the fall of oil prices. You don't get that very often in your life and you certainly don't get that often when you are in government.' 'Secondly, the fantasy of Indian reforms has led to very strong capital inflows to have made his job much, much easier.' 'You ride the winds in times of fortune and he hasn't done that. At least, not yet.' 'Those winds of fortune which are blowing your way can certainly turn around easily. There are quite a few headwinds coming up. He may well, history will show, have missed the opportunities that existed.'
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
Indian economy about to take-off
Tarun Vijay, MP, salutes the General whom he adored as a great friend.
Attired in his trademark half sleeves kurta and sporting a Rajasthani turban, Prime Minister Narendra Modi devoted a bulk of his 90-minute address on the occasion of the 70th Independence Day to presenting in effect a report card of his government's work particularly in boosting economic growth, ease of doing business and welfare schemes for the poor and farmers.
With EU, it is part of the FTA that we will need to negotiate.
On the occasion of Chinese New Year, we bring you a look at what 2015, the Year of the Sheep has in store for you!
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances