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Mangalore, July 29

Mr Ananthakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, has said that the RBI’s measures to increase CRR and repo rates were expected. These measures are aimed at tightening liquidity. “If you see the inflation figures for the last week, it has started declining. Perhaps to facilitate further decline, very moderate steps are taken by the RBI,” he said. Asked if it will affect the margins of banks, he said 0.25 per cent increase in CRR will not affect the margins of the banks much. To a query whether the banks would go in for increasing rates, he said the banks have revised rates when the RBI initiated 0.5 per cent increase in CRR recently. “Therefore, with this 0.25 per cent increase there may not do further increase in interest rates. That is what I feel,” he said.

— Our Bureau

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