Banks may need more capital than RBI’s estimates: Rangarajan

.....Financial innovation, the periodic entry of new banks and better planning by banks are the need of the hour to keep pace with the growing needs of the economy, C. Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council, said. Addressing a gathering at an award function to felicitate the top performing financial institutions in the country, the former Reserve Bank of India Governor said the Indian banking system is in a good shape. However, there is a need to be watchful and plan well in advance to match the requirements of a growing economy, he added......

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