Reddy's just Fed up of inflation.
Economic Times (New Delhi, India), February, 2007
Feb. 2--MUMBAI : The big retail loan balloon is set to lose gas. Consumer, personal, and eventually, home loans will turn more expensive. Pledging shares for investments in the stock market will be less attractive while sweeteners like cash-back offers on credit cards may simply disappear. And, realtors, building on spiralling property prices, will find it tougher next time they ask for a bank loan.
Reserve Bank of India governor Yaga Venugopal Reddy has taken the punch bowl away just when the party got going. Driven by the spectre of inflation and fiercely growing loan books of banks, the governor has stepped in to make money more expensive.
Mr Reddy wants to cut the excess spending reflected in bloated credit card receivables and big loans for second...
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