Rajan said it is a very complicated issue that should neither be taken lightly nor should an easy and rushed explanation be offered to the tragic incidents of suicides.
While the gross NPA percentage crossed 5 per cent for PSU banks, for private banks it was marginally up at 2.1 per cent.
The police have registered a case under various Sections of the IPC and certain sections of the Information Technology Act on Thursday.
Security has been beefed up after RBI Governor Raghuram Rajan received a threatening e-mail.
Axis Bank has slashed the home loan rates by 20 basis points to 9.95 per cent with effect from April 13, 2015.
The apex bank has received 72 applications for small finance bank.
Rajan hinted that RBI might issue licenses for setting up of payment banks, small finance banks and a postal bank.
SBI, HDFC Bank cut lending rates by 15 bps each; ICICI slashes by 25 bps.
The repo rate will continue to be at 7.5 per cent and the cash reserve ratio will remain at 4 per cent.
“RBI is performing its role and I congratulate Raghuram ji and his team,” said Modi.
Conversion of debt into equity promises relief to a stressed system. Banks must use flexibility with care.
Post-Budget meet: Amid signs of tension, Raghuram Rajan too backs PMDA, calls concept a worthwhile move
Investors in the US reacted favourably on Wednesday as the Federal Reserve moved a step closer to its first rate hike since 2006.
While the RBI governor did not rule out the possibility of near-term volatility in the markets, he said that in the medium term, markets will be back to normal.
Finance minister is right in wanting to create a modern bankruptcy law and procedures. It is a reform long overdue .