Usha Thorat, RBI Deputy governor had expressed the central bank’s concern over the scaling down of loan interest rates by Indian banks for limited period to lure borrowers.

Moody’s Investor Service upgraded the outlook on Indian local currency debt on Tuesday, December 15, 2009. However, the ratings remained unchanged. The outlook was turned from ‘stable’ to ‘positive’ at a rating of Ba2 (non-investment grade), in the wake of higher than expected GDP growth rate of 7.9% in the quarter ended September, 2009.
The improvement [...]

The roots of the Indian banking industry go back to the 18th century when the first bank was established here. In 1969, the trend of nationalization of banks started and the economic reform of 1991 saw the privatization of the industry.
The sector is now mainly divided into public or private sector banks, regional banks, [...]

On November 25, 2009, the Dubai Government made a declaration that jolted the already ailing world economy. In a shocking announcement, the Government stated that, Limitless and Nakheel, the flagship property companies of the State-owned conglomerate Dubai World, were likely to turn insolvent. The Government asked for a moratorium until May 30, 2010 or further, [...]