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BW Businessworld

Quotable Quotes

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“Some things never change  — there will be another crisis, and its impact will be felt by the financial markets” 
—Jamie Dimon, CEO, JPMorgan, in his annual  letter to shareholders
 
“Our fairness has been partly misunderstood. The converse of tax terrorism is not a tax haven... Let it be clearly understood that India is not so vulnerable that every legitimate tax demand can be considered tax terrorism, because we are not a tax haven and we don’t intend to be one” 
—Arun Jaitley, finance minister, at a conference
 
“Greece is not a beggar going around to countries asking them to solve its economic problem, an economic crisis that doesn’t only concern Greece but is a European crisis” 
—Alexis Tsipras, Greek Prime Minister, after Russian President Vladimir Putin offered only moral support and long-term cooperation but no financial aid
 
“Prime Minister Narendra Modi is behaving like Duryodhan of Mahabharat and ready to sacrifice interest of farmers and tribals to appease the corporates which invested in the public issue (Modi) during elections. Investors now want dividends in the 
form of land” 
—Jairam Ramesh, former Union minister and architect of the 2013 land law, at a press meet
 
“Banks are sitting on money. Their marginal cost of funds has fallen. The notion that it hasn’t fallen is nonsense. When banks have to raise rates, they quote higher policy rates... Why don’t they cut when policy rates go down?” 
—Raghuram Rajan, governor, RBI, on banks not passing on the benefits of lower interest rates to consumers, a factor that is rendering RBI’s back-to-back repo cuts ineffective
 
(This story was published in BW | Businessworld Issue Dated 04-05-2015)