RBI cuts rate amid ongoing banking sector concerns
Governor says central bank will re-examine regulation of co-operative banks
The Reserve Bank of India has continued its easing cycle, reducing its main rate by a further 25 basis points today (October 4).
The action, which brings the total cuts this year to 135bp, was overshadowed by ongoing concerns over trouble in the bank and non-bank financial sectors.
The RBI’s monetary policy press conferences often cover a range of issues, but much of today’s was dominated by questions on the fallout from the collapse of PMC Bank. The mid-size co-operative bank appears to have
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