The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
The Reserve Bank left interest rate unchanged.
Payment banks may not be viable option to attain financial inclusion.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
'The recent US jobs report has eased fears of a hike in the Fed meeting.'
The market could be influenced by events elsewhere in the world and regardless of what happens to India's economy
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
Data used for the graph and cited elsewhere in the column were obtained from various publications of the RBI.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
The finance ministry has put out a revised draft in public domain.
The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
China's economy is in transition, with rising wage costs and massive overcapacity.
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
'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.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
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