Excerpts from interview with Rohini Singh and Hema Ramakrishnan (ET)
Q: Do you think the RBI should start cutting rates now?
A: That is a call that the Governor has to take. In our view, government and monetary authority must point in the same direction and walk in the same direction. As we take steps on the fiscal side, the RBI should take steps on the monetary side.
Q: Are you in favour of bank consolidation ?
A: The main task is to recapitalise our banks, make them more technology driven, push them into aggressive financial inclusion and make them lend more to the bottom of the pyramid. We would need large-sized banks and, if that can be achieved by consolidation, so be it. The policy is to grant more licences and if required amendments to the Banking Regulation Act.
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