About 17 years ago, Rashesh Shah started as a small three man unit in a small room in South Mumbai, a firm that he hoped would become in his words the Goldman Sachs of India.
Finance Minister Pranab Mukherjee today asked banks to bring down their non-performing assets (NPAs) for sound financial health of the Indian banking system.
Even though Moody's cut its outlook of the Indian banking system, Bank of Baroda's chairman and managing director tells CNBC-TV18 that he is absolutely not worried about the health of the Indian banking system.
In an interview on CNBC-TV18, he says the extended contagion in the US and Europe is due to fears emanating from the instability in European banks. Global analysts have said they fear that this contagion may slowly seep into the Indian banking space, a comment Vijay refutes.
Concerned over rising Non- performing Assets (NPAs) of public sector lenders, Finance Minister Pranab Mukherjee today said banks must tackle the problem seriously but without choking credit.
CRISIL Ratings has come out with its report on infrastructure lending. According to the rating agency Indian banking system can increase their funding capacity to the infrastructure sector by Rs.1 trillion over the next four years and it can be done by refinancing of infrastructure project loans through debt capital markets.
Cash conditions in the Indian banking system may improve substantially by the end of March as the government is unlikely to hold back on budgeted spending as the fiscal year nears its end, policymakers said.