Business Standard

Aesop's fable revisited in banking sector

The apex bank has already prescribed a deadline for the implementation of new benchmark rates from April 1

Lending Rate
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Harsh Roongta
Not so long ago, there was a grassland controlled by a group of foxes. These foxes imposed monthly rent on all grass-eating animals, such as sheep and goats. When there was a drought, the rent was promptly jacked up, and the grass-eating animals had no option but to pay. Conversely, when there were good rains and grass was aplenty, the foxes came together and continued to charge a higher rent. Frustrated, the grass-eating animals complained to the king – Lion. 

When the lion asked the foxes about it, they admitted to their deed. But they justified it by saying that other

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