There are two views among banks on whether this is the right time to restart lending or not. For example, take a look at country’s two top bankers— SBI chairman Rajnish Kumar and Kotak Mahindra CEO, Uday Kotak. Kumar is of the view that this is the best time to lend but Kotak says his bank would be very cautious in giving new loans. … [Read more...] about RBI Governor Shaktikanta Das vs Banks: Who will win the tug of war on high risk aversion?
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The RBI Monetary Policy Committee (MPC) had left the repo rate unchanged at 4 percent and reverse repo rate at 3.35 percent in its August meeting. Since February 2019, the MPC has cut repo rate by a steep 250 basis points. One bps is one hundredth of a percentage point. … [Read more...] about RBI Governor Shaktikanta Das’ address highlights | ‘We haven’t exhausted our ammunition’
“Union Minister for Finance & Corporate Affairs Nirmala Sitharaman will review with the top management of SCBs and NBFCs, the implementation of the resolution framework for COVID-19 related stress in bank loans on Thursday, September 3, 2020,” the Ministry of Finance said. … [Read more...] about FM Nirmala Sitharaman to review implementation of resolution framework for COVID-19 stress in bank loans
Reading between the lines, the time for major rate cuts could be over. The MPC is likely to be on a prolonged pause mode. The panel could watch the inflation trajectory going ahead and accordingly chart out the path for monetary policy. A reversal in monetary policy stance cannot be totally ruled out. … [Read more...] about RBI MPC minutes point out chances of a prolonged pause; Is the rate cut season over?
"We prohibit hate speech and content that incites violence, and we enforce these policies globally without regard to anyone’s political position/party affiliation. We are making progress on enforcement and conduct regular audits of our process to ensure fairness and accuracy," a Facebook spokesperson said in a statement as quoted by news agency ANI. … [Read more...] about The Facebook hate speech fiasco: All about the political controversy brewing in India