Finance Minister Nirmala Sitharaman said that authorities will make sure that public sector and private banks pass on the benefits of rate cuts to consumers.

The Reserve Bank of India has reduced the repo rate from 4.4 percent to 4.0 percent in its latest policy meeting.

Prime Minister Narendra Modi made a big announcement which cheered investors and economists but soon people started questioning about the details.

Indian Banks, both private and public sector, aren’t lending to small businesses and individuals as they used to do in the past.

Indian government is seriously considering the idea of creating a ‘Bad Bank’ in order to resolve Indian banking sector’s NPA crisis.

Indian government has a tough task of boosting economy once the coronavirus pandemic is under control.