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Money & Banking
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Monetary Policy
`No major impact likely'
Hyderabad, Oct. 30
The Credit Policy announced by the Reserve Bank of
India largely reflects a status quo in regulatory
framework, according to Mr Amitabha Guha, Managing
Director, State Bank of Hyderabad. "To sum up, nothing
dramatic has happened. There would be no major
adverse impact on anything," Mr Guha told Business Line
here.
On the 50 basis points hike in CRR, he said it should be
seen in the context of current liquidity scenario. "We
expected the CRR hike to be between 25 and 50 basis
points. The revenues and profitability of banks would be
marginally impacted by the hike," he pointed out.
Approximately, the banking industry would have to move
Rs 14,000 crore to the apex bank as a result of CRR hike,
he added. The other aspects of the policy such as GDP
growth forecast at 8.5 per cent and targets on inflation
front were "realistic", he said. - Our Bureau
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