Financial Daily from THE HINDU group of publications
Tuesday, Oct 21, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 21, 2003 |
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Money & Banking
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Credit Market Benchmark PLR not conducive: IBA Our Bureau
Mumbai , Oct. 20 THE Indian Banks' Association has said that it is not comfortable with the concept of a single benchmark PLR. Speaking to presspersons, at the sidelines of a press conference here today, Mr V. Leeladhar, Chairman and Managing Director, UBI, and Chairman, Indian Banks Association, said, "The IBA has made a representation to the Reserve Bank of India based on its report on a benchmark PLR, that such a system will not be conducive for Indian banks at present." The apex bank had earlier asked the association to study the feasibility of arriving at a benchmark rate, to which all loans can be linked. On his expectations from the credit policy, Mr Leeladhar said, that he expected a 50-100 basis point cut in savings bank rates and a possible 25 basis point cut in bank rate.
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