While he has plenty of critics at home, Rajan is a favourite among foreign investors and has been credited for bringing inflation under control.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
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Bankers remained ambivalent on the impact of Tuesday's policy announcement by Reserve Bank on the cost of funds and refrained from giving a guidance on the direction in which lending rates are headed.
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
The EOW suspects a nexus between some of the accused and HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at the bank, leading to appointment of administrator by RBI and restrictions on withdrawal of funds.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
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