Business Daily from THE HINDU group of publications
Sunday, Nov 02, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Sunday, Nov 02, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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CRR & Bank Rates `Strong signals to banks' Hyderabad, Nov. 1 The series of measures taken by the RBI are indeed very aggressive and sends strong signals to the banks and financial markets. The inter-bank call rates peaked in the last couple of days highlighting the liquidity crunch in the market. This, among others, might have triggered the RBI's move. By these measures, the RBI also sent feelers to the banks that they should take a re-look at the interest rates on deposits and advances. We, at Andhra Bank, will review the interest rates at the meeting of asset liability committee scheduled for next week. We cannot say whether there would be any further measures in future as it depends on how markets react. But, the Government and the RBI proved beyond doubt that they are keen on addressing the liquidity needs, said Mr R.S. Reddy, Chairman and Managing Director, Andhra Bank. - Our Bureau More Stories on : CRR & Bank Rates | Private Banks
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