Deadline to submit convincing reform plans is this week.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
Citing rising prices, slowdown in growth and depreciation of rupee among the problems facing the economy, the opposition members said in the Lok Sabha that they feared the repeat of the 1991 crisis when the country had to mortgage gold as it failed to meet short-term debt obligations.
The euphoria of Ab Ki Baar Modi Sarkar will fade quickly if the Modi government does not raise its game, and focus significant monetary resources and managerial skills on making India's infrastructure truly world-class, says Ram Kelkar.
