The RBI’s primary concern is controlling inflation and once it subsides, the central bank is expected to cut interest rates, Chaudhry has said
According to him, for the GDP growth to come back, state governments play an important role in getting the urban development and the capex cycle going
Going ahead, Axis Bank will offer a service on its mobile app where customers of other banks will be able to undertake transactions rather than just being able to view the account details as is offered today, Chaudhry said
Chaudhry said the RBI’s unhappiness with the rising exposure of banks to NBFCs arises from the fact that, in some cases, lending through fintechs or NBFCs happens without banks taking ownership
RBI, on November 16, increased the risk weight on consumer credit from 100 to 125 percent.
In thre previous fiscal year, Cahudhry had earned an annual salary of Rs 7.62 crore.