The RBI order was issued after outages in the bank's internet banking and payment system. It also directed the HDFC Bank board to examine the lapses and fix accountability.
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’.
Two questions are pertinent: Why does the Trump administration keep making the same mistakes on the peace proposal? And what does a hurried peace plan mean on the ground?
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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