...Inflationary pressure is still the larger trend which RBI has preferred to study further. GDP growth has been pegged 4.7 per cent in fiscal 2014, and the lacklustre growth of manufacturing and services, not to mention the IIP deceleration of over 1.5 per cent, does warrant a vision beyond inflation firefighting. Here, a trim-down of the earlier interest rate hike would have helped industry and banks alike. But the dangers of NPAs spiralling of control and RBI’s proposals to pre-empt delinquencies seem to have gone down well with state-run banks.......
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