Friday, November 7, 2008

FM whips banks, gets all rates cut

Hesitant PSBs forced to slash by 75 bps:

Just before noon on Thursday, the Ficci-IBA Banking Conference was gathering pace at the Grand Hyatt in Santacruz East, Mumbai, when a public sector banker got a call.

Nobody knows where the call was from, but what followed was enough to set the dovecotes aflutter.

Disconnecting, the banker went into war-dial mode, as did some officials of Indian Banks Association (IBA). To read more, please, visit - DNA

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