Thats the way it works.... No Doubt... The intention of StanChart may be good... but to analyse the impact RBI has to make hard to acknowledge the application.... Good done RBI.... Hat's off ....
RE:RBI has to be protectionist .....
by Gautam Sinha on Jan 17, 2008 01:40 PM Permalink
how will microcredit to small farmers or other people in rural India impact India adversely particularly when it is mandated that Banks need to open more rural branches to facilitate micro credit? Stopping this only means that RBI is trying to protect the existing moneylenders and till private banks in India have sucked rural India with higher interest rates and threatened with goons. Foreign banks are decent enough to treat its customers as individuals and this probably is not digestible to the existing polity and banks.
