A day after its bigger rival ICICI Bank cut its lending rate, the third-largest private lender, Axis Bank, on Friday lowered its base rate by 0.10 per cent to 9.85 per cent, effective June 30.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
'There has been an enormous amount of attention paid to issues like capital account convertibility, bank privatisation and bank priority sector norms. There are many other areas where reforms are less controversial, but perhaps as important,' the report of the high-level Committee on Financial Sector Reforms headed by Raghuram Rajan, a professor at Graduate School of Business, University of Chicago, said.
Banks may reduce their interest rates.
A group of high-powered individuals led by Anand Mahindra have come together to set up Krea university. The campus is expected to be ready by 2019 and the first batch of 100 to 125 students will commence classes in August next year.
Rajesh Vardhan, managing director, Vardhman Group, will chat on home loans on Wednesday, September 25, at 3 pm.
India was less directly affected by the Chinese stock market rout and yuan devaluation that battered currencies and markets in the region.
India on Saturday favoured greater mobility of skilled labour
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The central bank was seen selling dollars consistently when the rupee would approach the record low of 68.86 hit on August 28.
The three years at the Reserve Bank have mostly been a string of success stories for Rajan, gaining him common man's adulation even as the free-thinker in him made a few foes who matter more in the corridors of power
'We expect the Reserve Bank of India to deliver a 25 bps rate cut in April to support growth.'
Finance Minister P Chidambaram held informal consultations on Wednesday on possible candidates for the Reserve Bank deputy governor's post.
Rajan said the RBI is working on upgrading the capabilities of its inspectors to undertake bank system audits as well as to detect vulnerabilities in them
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
The step followed Reserve Bank Governor Raghuram Rajan's hard talk.
The committee on financial sector reforms headed by Raghuram Rajan has recommended that provident funds and insurance companies should be allowed to invest abroad, a move that will require legislative changes.The panel's draft report has also called for the introduction of "true auctions" in securities, reduction in the auction and trading period, unified disclosure norms for multiple securities, use of call options for opening and closing price on exchanges.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
In policy review meet in June, RBI Governor Raghuram Rajan kept interest rates intact.
The device supports a host of India-specific apps and the more you use it, the better it gets.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
The hardening of the Wholesale Price Index follows an uptick in retail inflation.
Credible fiscal consolidation has been a consistent pre-condition to easing the monetary policy stance as far as the RBI is concerned.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
A reading above 50 represents expansion while one below means contraction.
RBI governor Raghuram Rajan is clear about cleaning up the mess in the banking system.
In December 2014, it was (-)0.50 per cent.
A strong currency helps in fighting some of the import-led inflation.
'The true fruits of the attack on black money, what Raghuram Rajan did for the banking system, and what technology is doing for us will come in FY19, which, not surprisingly, is the year running up to the next Lok Sabha elections.'
The right policy response to global price increases is not straightforward. The draft report is wide-ranging in its scope, and it attempts to provide a coherent, integrated view of financial sector reforms that would equip India's financial sector to support growth, widen financial access and maintain stability over the next decades. The report is being released for public discussion at a critical juncture in both the domestic and global economy.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
The report also described the RBI as an "extremely visionary, pragmatic and fairly independent" organisation throughout its history
Rajan said there will be some volatility, but once the initial bout or wave abates, people will look for good fundamentals
The High Commissioner upon seeing Mallya walk in actually at the mid of the event, got up and left
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
Bajaj hit out at banks for not passing the entire benefits to consumers.
Traders suspect The Reserve Bank of India (RBI) bought bonds and actively intervened in the rupee to support sentiment.
In April, RBI had projected retail inflation to be around 5 per cent.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
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The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
P Chidambaram on Saturday wondered whether the Modi government "deserves" Raghuram Rajan
