Barclays is getting out of retail banking in Italy, the BBC reports. The bank announced that it would sell its retail banking network, including 89 branches, to CheBanca, part of the MedioBanca Group. It will continue to offer corporate and investment banking in the country. The sale will result in £200 million loss. The governor of the Reserve Bank of India, Raghuram Rajan, has chided the country's banks for not passing on official rate cuts, The Economic Times reports. So far this year the RBI has cut rates by 125 basis points but banks have passed on as little as 20 bps. Even the most generous bank has passed on only 105 bps. Rajan said lenders have passed on less than half the 125 bps, on average, and there was scope for them to cut more.