Restrictions on banking led to limited capacity for new entrepreneurs to have access to resources. It allowed the old elite to continue dominating. This order must be shaken up now.
Mohan's remarks come days before RBI releases its Financial Stability Report, which will give investors a clearer picture on how banking sector is dealing with an economic downturn.
The bank will instead operate its consumer-banking franchise from four wealth centers in Singapore, Hong Kong, the United Arab Emirates and London, it said Thursday in a statement.
As Assam heads to polls, 300 tea gardens in the state have been provided access to banking facilities via business correspondents. Nearly 90 ATMs have also been installed.
RBI panel member Sachin Chaturvedi says there is nothing new in industrial houses promoting banks & checks and balances have been proposed to avoid connected lending.
In a paper, Raghuram Rajan & Viral Acharya have termed the recent recommendation of an RBI internal working group on allowing corporates into banking a ‘bombshell’.
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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