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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.

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.
Indian banks have been allowed to fund M&As, but the framework will matter as much as the opportunity.