Deputy governor R. Gandhi’s claims on the quantity of low-value notes pumped into circulation are false. The giant release of small change is just another attempt at spin.
Blaming the money laundering instances on a few employees and suspending officials may deflect public and regulatory criticism but the cancer is widespread.
Arvind Subramanian’s earlier statements indicate he has been against the idea of “Big Bang” reforms, arguing instead for an incrementalist approach.
The dual reporting structure comes at a time the bank should be strengthening and not diluting the independence of its risk management team.
There is a need to coordinate efforts to direct credit to the crucial sectors of the economy to stimulate growth, otherwise the same mistakes made in the past with infrastructure loans will be repeated
Patel’s nomination has been hailed as an example of continuity of Raghuram Rajan’s policies; if this is so, then what was the need to let Rajan go in the first place?
The government’s policy will have to ensure that foreign investors and the stock markets do not lose confidence.
The term “watch list” is a bit misleading, giving the impression that the loans on the list may eventually turn out be healthy. But Axis Bank stated 60% of the watch list will become non-performing assets.
The bank’s shocking performance in the last financial year should raise serious questions about its management.
The stock markets are falling, the rupee is sliding; this may be time for ideas such as taxes on capital outflows
The hard numbers don’t warrant optimism, but there is an inbuilt bias to continue looking for “green shoots” rather than face the facts
More puzzling than the media’s softness towards private banks is the regulator’s feather-touch approach which allows them to engage in questionable practices.