Oriental Bank is the seventh state-run lender to be put under a corrective action plan, which requires a bank to enact curbs on hiring, branch expansion and taking on new loans
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State banks, including SBI, the country's largest, have battled rising bad loans in recent years, a fight that has dampened credit growth and slowed a long-awaited economic revival
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The RBI's policy wordings suggest that it isn't yet fully confident about inflation figures, citing that the recent fall can be attributed more to transitory factors such as an unexpected fall in food prices. It expects inflation to rise back to 4.6% by the end of the Financial Year
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The government may cut its stakes in state-run banks to 52 percent, Sanjeev Sanyal, principal economic adviser at the finance ministry
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The panel, set up to look into why commercial banks were not passing on the central bank's rate cuts, said in a report that banks "deviated in an ad hoc manner from the specified methodologies" for calculating their lending rates to avoid fully following the RBI's rate moves
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India's state-run banks have been battered by bad loans, and SBI, which accounts for more than a fifth of India's banking assets, saw stressed assets rise after it absorbed five subsidiary banks this year
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A good Financial Plan pretty much begins with covering your bases
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Asked about the steps that government needs to take, Rangarajan said the problems confronting stalled projects need to be addressed and then these have to be completed
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