'Lower rates are only part of the solution and sometimes not the right solution at all.'
State Bank of India does not levy any charge for non-maintenance of a minimum balance in basic savings account.
RBI has already come out with a discussion paper on banking sector in India, on which the regulator has invited comments from stakeholders.
Better supply management and check on hoarding should be able to prevent food price spikes
Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to cut rates last week surprised even top officials.
The finance minister has said that United Bank has managed to reduce its non-performing assets.
Reserve Bank of India Governor Raghuram Rajan, in a hurriedly called press conference, said that the central bank has now routed back most of the dollar demand from oil companies to the market.
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
The message to bankers from Raghuram Rajan was clear.
RBI may hold rates in Apr; to go for 25 bps cut by June: DBS
For the fortnight ended September 5, annual credit growth in the banking system fell to 9.68 per cent, data released by the Reserve Bank of India showed.
Mergers to create at most six state banks
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
The single most important issue in Public Sector Banks is corruption.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
Budget 2015 has blessed the banking sector.
Finance Minister Arun Jaitley said RBI and the government are in continuous dialogue and that relationship will continue.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
RBI would get the comfort of meeting its 8 per cent January Consumer Price Index-based inflation target, BofA-ML said, adding that 'we expect the RBI to cut 75 bp in 2015 from February with inflation on course to 6 per cent in January 2016'.
Experts said a future rate cut would depend on the inflation.
India will witness good growth under the present government.
On India achieving higher growth, Rajan said 9 per cent, which is the widely believed potential growth rate of the economy, is still some time away.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
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The rupee resumed slightly lower at 62.05 per dollar as against the last weekend's level of 62.04 at the Interbank Foreign Exchange market. It recovered to 61.88 per dollar before quoting 61.93 at 1045 hours.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
In policy review meet in June, RBI Governor Raghuram Rajan kept interest rates intact.
Rajan also said the outlook for agriculture is subdued, in view of both rabi and kharif prospects being hit by monsoon vagaries.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
After making a larger-than-expected cut of 50 basis points on September 29, Rajan urged the federal government to do its bit to accelerate growth through structural reforms.
Bankers expect RBI to help them spur lending growth.
With Raghuram Rajan not 'really there', the FinMin has decided to keep a watch on market developments this week with all key officials on the job.
Move to shift powers from RBI without discussions baffles many
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
India Inc is borrowing from global firms as interest rates sky rocket in India.
Traders suspect The Reserve Bank of India (RBI) bought bonds and actively intervened in the rupee to support sentiment.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
An early choice will also allow Mr Rajan to do some hand-holding.
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