Reserve Bank of India Lowers Policy Interest Rates; Indian Banks Generally Fairly Valued
The Reserve Bank of India has lowered the policy interest rate to 6.25% from 6.5%. This was the first decision made under the new regime of voting by a six-member Monetary Policy Committee, with newly promoted governor Urjit Patel deciding on a deadlock for an even vote. RBI noted that inflation is under control, as the consumer price index increased 5% in August, versus 6% in July. This is within RBI's earlier-mentioned inflation target of 4%, with a range above or below of 2%. The declining in...HDFC Bank is a commercial banking group based in India. Co. is engaged in providing banking and financial services. Co.'s operations are organized along four segments: Treasury, which includes its investment operations; Retail Banking, which serves retail customers with deposit products, loans and other services through a branch network and other delivery channels; Wholesale Banking, which provides loans, non-fund facilities and transaction services to corporations, public sector units, government bodies, and medium scale enterprises; and Other Banking Business, which includes para banking activities such as credit cards and debit cards.
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