So, there are many channels through which monetary policy works, other than the impact on mortgage rates. These various channels take time to work, but they do work, and they are working to establish a better balance between supply and demand in the economy. As I have discussed on previous occasions, the Reserve Bank Board is navigating a narrow path.
•  It is stated that non interest income accounts for nearly half of all operating income generated by US commercial banks. In India, it is less than one-fifth.