Yesterday’s report on the consumer price index (CPI) for June was a major league disappointment. On a twelve-month basis, total inflation stood at 9.1 percent, the highest in 40 years. Core, which came down slightly in the last couple months, has averaged over 6 percent this year, and is too high as well.
However, SFBs and payments banks with reliance on high-end technology can pose significant challenges to cooperative banks. Payments banks sponsored by telecom companies can easily capture the remittance business from these banks. Co-operative banks have to substantially alter their approach to protect their turf from this competition onslaught. Relevance of co-operative banks 17.