Rate cut is Ok for the bank managers and the project proposers. More loans will be given on low interest rates and the loans will be declared as NPA after the bank managers and the project proposers have had their shares. It is the poor depositers that will suffer. Mr. Rajan knows this and yet he has cut the rates. Inflation is moderated he says. Onions sell at over 80 a Kg, dals have gone sky high, meat is banned. What is cheap now and where are the aachhe din promised?
