Sitharaman said while she is grateful that Rajan did an asset quality review, people should know why the banks are ailing today.
Don’t generalise co-op banks’ health based on PMC case, says Das.
With regard to domestic investors, he said, they now have more cash so they'll be able to undertake more capital expenditure.
Shaktikanta Das' comment on NBFCs comes at a time when banks are grappling with the resolution of stressed cases like mortgage financier DHFL.
Shaktikanta Das refused to share RBI's revised growth projection, stating that it will go public with the revised numbers at the next monetary policy announcement on October 4.
Expressing concern over the first quarter GDP, RBI Governor said that the numbers looked much worse because RBI had projected 5.8 per cent.
RBI Governor Shaktikanta Das also pointed out that external benchmarks would lead to cheaper loans and more transparency in rates.
The central bank estimates that the GDP growth in the current year will be less than government estimate of 7 per cent.
The Congress leader on Monday had visited flood-affected areas in his Wayanad Lok Sabha constituency in Kerala, including worst-hit Puthumala, and assured all help.
Analysts feel that the repo rate cut might indicate that the slowdown may be getting worse, but it’s too early to hit the panic button.
In a few hours, the RBI’s Monetary Policy Committee will announce its decision on key policy rates.
The former RBI governor said that rising inequalities should be the primary concern of the Central government.
Rajan, who now teaches at Chicago Booth School of Business and once served as chief economist of the International Monetary Fund, was recently named as the second most likely to get the BOE job.
Finance Minister Nirmala Sitharaman's plan to sell bonds overseas comes as PM Modi faces shrinking options to raise funds.
Patel, known for not mincing his words, said there are no short cuts, and that sweeping the problem under the carpet won’t work.