There is nothing official about it, but the so-called memorandum of understanding that the nation’s largest lender State Bank of India (SBI) had signed with…
An eight-point agenda for RBI
India’s central bank has completed 80 years. At a function in Mumbai on 2 April, the Reserve Bank of India’s (RBI) 23rd governor, Raghuram Rajan,…
For RBI, monetary transmission bigger challenge than rate cut
The average consumer price inflation in India in fiscal year 2015-16, according to most analysts, will be in the range of 5.25-5.5%, at least 50…
Why aren’t banks cutting loan rates?
Since January, the Reserve Bank of India (RBI) has cut its policy rate by half a percentage point to 7.5% in two stages, but most…
UTI AMC: Whose baby is it anyway?
Leo Puri, managing director of India’s fifth largest mutual fund, UTI Asset Management Co. Ltd (UTI AMC), is in a bind. He wants the asset…
No respite from bad assets
Typically, in the last quarter of every financial year, commercial banks aggressively chase deposits and disburse loans to grow balance sheets and raise profitability. This…
Do we need Mudra Bank?
For the quarter ended 31 December, the aggregate loan portfolio of India’s for-profit microfinance institutions (MFIs) registered with the Reserve Bank of India (RBI) as…
Arun Jaitley’s smile, the rate cut, and a few questions
On Saturday, at the post budget press conference, the first question that India’s finance minister Arun Jaitley faced was: “Now that you have pushed the…