President Barack Obama is pressing an overhaul of Wall Street regulations with a push-and-pull strategy – reasserting his desire for a consumer agency that Republicans despise while proposing new bank restrictions that even Republicans could love.
As he readies for his State of the Union speech Wednesday, the president’s approach reflects the demands of a new political landscape in Washington, where Republicans now have the votes to block Democratic initiatives in the Senate. View Full Article »
SBI chairman OP Bhatt on Monday said there will be a huge strain on the banking system in times to come .
“While there are huge opportunities, the banking system is under a lot of strain. The profits and interest margins may strain, while low-cost resources, current and savings account (CASA) are also on a decline. Non-performing assets are also projected to go up over the next one or two quarters,” he said.
Bhatt also noted that as inflation pressures are building up, regulatory action may lead to hardening of interest rates.
However, he is confident of India likely to witness a growth rate of 8%. “The combined dynamics of multiple factors in social, political and economic sectors are such that come what may, the country will continue to grow at 8% for the foreseeable future,” Bhatt said. he was speaking atthe Bancon conference in Mumbai. View Full Article »
