Easing inflation expectations both in India and abroad, indications of slower rate hikes in the US and worries over a global economic slowdown are likely to ensure a smaller interest rate increase by the Reserve Bank of India (RBI) this week, bankers and economists expect.
Reserve Bank of India (RBI) rules restrict Indian banks from lending to companies for takeovers. The Indian central bank always viewed lending against shares as a risky activity because a sudden collapse in stock prices could leave banks holding worthless paper. They can lend only up to Rs 20 lakh, a rule that was set after the so-called Harshad Mehta scam of 1992.
A special CBI court judge, while dealing with a bail application in India’s biggest bank fraud case, called for legislation to extend the deadline for filing of charge sheets in “highly serious” cases, highlighting the difficulties faced by investigating agencies in completing complicated case probes.
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