Interesting turnaround

Print edition : October 30, 2015

Even if the rate cut is an adequate weapon, its effectiveness will depend on banks passing on that benefit to potential borrowers. Here, a bank announces new interest rates after the RBI's rate cut. Photo: K.V. Srinivasan/The Hindu

RBI Governor Raghuram Rajan, alongwith Deputy Governors (from left) S.S. Mundra, R. Gandhi and H.R. Khan, addressing the media after he announced the Central bank's monetary policy in Mumbai on September 29. Photo: PAUL NORONHA

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