With liberalization, the Bank’s focus has shifted back to core central banking functions like Monetary Policy, Bank Supervision and Regulation, and Overseeing the Payments System and onto developing the financial markets. In 1991, with the External Payments Crisis, Rupee devalued in two stages. Unified exchange rate was introduced in 1993. To maintain the foreign exchange… Read More »
Now there is talk of recession being over, markets being revived and the in general people out of their cautious cocoons where they were waiting and watching before grabbing the loans at attractive interest rates. For the past few months every bank has been vying with each other to provide competitive interest rates that will… Read More »
Do you know in those days the loans were restricted to Rs. 1 L only and the loan tenure was a mere 3 months only?! Also, these were security loans. Another trivia to note is that in this period lending against shares of the banks or on the mortgage of houses, land or other real… Read More »