Unseating gold

.....RBI would be up against the formidable challenge of unseating gold from the pedestal that the yellow metal enjoys in the collective psyche of Indians. Even if that could be assumed as somehow capable of being overcome, a far greater challenge awaits the RBI. This has to do with a more fundamental aspect of financial intermediation that banks are grappling with: How to generate a profit from operations that promises a fair ‘real’ rate of return on deposits and yet keeps interest rates on borrowings affordable enough for fresh investments to take place in the economy.........

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