The former governor of the RBI minces no words in describing the bad loan mess in government-owned banks. He does not spare any stakeholder, and rightly so
The statement from RBI might not be enough to calm investors and could fuel volatility on Tuesday. Analysts feel that the announcement could impact equity markets and rupee equally.
Overall credit pie will still continue to expand at healthy pace as NBFCs are expected to cede their market share in favor of banks, giving boost to the banking system credit growth.
In an interview with CNBC-TV18, leading economist TN Srinivasan, currently professor at Yale, along with Nomura's Neeraj Gambhir, discussed the appointment of Dr Urjit Patel as Governor of Reserve Bank of India.