Reader Question Answered: why I sound sceptical on Indian market for last few months. What about the Indian growth story?
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RBI
RBI announced its much awaited monetary policy couple of days back. It was almost in line with the market pundits expectation that the RBI would not increase the rate and as such, RBI has left all the key rates unchanged.
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Islamic Bank cannot be called a Bank because of RBI guidelines but it looks like time has changed and Kerala may have first Islamic Bank Next year.
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“I didn’t know what was going to happen the last two years. Why should I know what’s going to happen the next two years?” – Warren Buffet. But some predictions of market move for current week.
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RBI has, vide its circular dated April 13, 2009, made the following changes in High Value Clearing for metro centers. Following is the roll out plan for RBI
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The retail credit growth of the bank in 2008- 2009 is expected to be in a range of 5% only. Also, if RBI increases the repo rate, at which it lends short term funds to bank against governments securities, the interest rate will further increase. Bank will have no option but to pass on the rate to borrowers. This will further slow down the growth.
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