Q. The StAR MF platform that you have created is big in numbers. But is it big on profits also?
A. If I had headquartered StAR MF as a separate company in Bangalore, it would be worth probably a few tens of millions of dollars because that is where you value things differently. When you come to Mumbai, you value things differently but we are in Mumbai and so we try to be profitable, we do not burn money at all and that is why we do not even spend money on marketing.
Source: CBS
PELLEY: Fair to say you simply flooded the system with money?
POWELL: Yes. We did. That’s another way to think about it. We did.
PELLEY: Where does it come from? Do you just print it?
POWELL: We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.
Source : Samit Vartak
