Bank's operating profit fell 26 per cent at Rs 430 crore in the quarter ,total income fell too at Rs 2819 crore from Rs 2897 crore.
Rajan said that RBI now needs to figure out how the large stressed projects can be restructured to ensure longer term health of the system and the health of the project.
The decision had been widely expected after consumer inflation accelerated to 5.77 per cent in June, near the top of the Reserve Bank of India's 2-6 per cent range.
Reserve Bank of India has put up bank licences on-tap, and said that new banks should maintain 40 per cent priority sector target from the beginning.
"I know people get immediate concerns of what will be the effect on prices, but that's a one time effect. The long run effect is extremely beneficial," Basu said.
The panel will consider whether, how, and why the financial allocations of Indian households deviate from desirable financial allocation and behaviour.
Mitra said that SME feeds large industries and the most labour-intensive sector and therefore they should be given simpler passage for doing business. The single tax structure of GST would be ideal platform for them.
The Reserve Bank of India’s new priority sector rule has mandated banks to meet the lending target on a quarterly basis, instead of annual target practised earlier.
Dewan Housing’s Chief Financial Officer Santosh Sharma told ET that the company is in talks with large public sector banks such as SBI and others to raise funds via this route.
The opening of the on-tap licensing window ticks one more item off Governor Raghuram Rajan’s to-do list before he ends his tenure next month.
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