Banking wrap: RBI MPC minutes signal more rate cuts; PMC Bank raises withdrawal limit

Money Control | Oct 20, 2019 at 1:22 PM
  • Reserve Bank of India (RBI) Governor Shaktikanta Das said there is a need to watch fiscal deficit, after recent measures taken to revive investment raised concerns over the Centre’s ability to meet this year’s target.
  • The minutes of the policy review meeting released this week also signalled room for further rate cuts as all members emphasized on the need to support growth amid benign inflation.
  • Credit Rating Agencies (CRAs) in India have come under fire for failing to warn investors about major defaults that rocked the banking system in recent years.