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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Indian government wants someone who toes its line in the RBI chair. The economy needs someone who can rise above being a yes-man.
Till a month ago, Shaktikanta Das was tipped to continue as the governor of the Reserve Bank of India. Whether it was bureaucrats in the finance ministry or central bank officials, almost everyone was convinced that Das would get an unprecedented third term.
We also reported about it here. We were wrong.
Things have moved fast in the last few days. And the government has now appointed India’s revenue secretary, Sanjay Malhotra, as RBI governor.
Over the past three decades or so, Malhotra, a career civil servant, has worked across several sectors, including financial services, power, taxation and information …
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
While the earnings have been encouraging, the real challenge lies in addressing the slowing deposit growth and leadership uncertainty.
After successive controversies and growing unease over promoter influence, the central bank is reshaping the lender—starting with management, moving to its board and tightening the screws on ownership.
