I have really enjoyed publishing this blog.  One of the downsides is the embarrassment of an occasional typo, a problem with margins or other technical issues, or like yesterday, when I forgot to include a headline.  But, the  headline above is not a typo.  Banks have been found not to have colluded.

In India, the Competition Commission of India (CCI) dismissed allegations that banks had colluded had to control and determine prices in the gold loan business (here).  It is welcome to see the reasoning of the CCI:  “It may be observed that parallel behaviour needs to be substantiated with the additional evidence or the plus factors to bring it into the ambit of prohibited anti-competitive agreements.”

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