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Money & Banking
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Credit Policy
`To strain banks' profitability'
Hyderabad, July 29
The hike in cash reserve ratio and repo rate, though
expected, will cause a great strain on the profitability
of the banks this year, according to Dr K. Ramakrishnan,
Chairman and Managing
Director, Andhra Bank.
For margins protection,
banks have to take
measures such as hike in
interest rates. The credit
growth would be
moderated further and all
sectors including
corporates and individuals
will feel the impact.
"Till now, banks have been
soft on housing loans
despite the hike in rates
and this may not be
possible any longer. The
hike re-affirms the fact that RBI is keen on moderation of
credit. It took a natural recourse to CRR and repo hike to
tame inflation, he said". - Our Bureau
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