Financial Daily from THE HINDU group of publications
Saturday, Apr 30, 2005
Financial Daily from THE HINDU group of publications Saturday, Apr 30, 2005 |
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Money & Banking
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Credit Policy `Addresses concerns of inflation, growth' Our Bureau
Mumbai , April 29 THE Reserve Bank of India remains bullish on growth in the economy, and the increase in reverse repo rate by 25 basis points signals its concern to keep up the growth momentum but have inflation under control, according to the SBI Chairman, Mr A.K. Purwar. He said that the RBI has now linked bank call money market exposures to capital funds only instead of capital and reverses as hitherto. The electronic trading platform for Government securities trading, screen-based quote-driven system for call money and move to T+1 for settlement in transactions in Government securities will increase liquidity, improve efficiency, bring in transparency and convenience in settlement, and move markets closer to international best practices. The guidelines for mergers will encourage consolidation in the banking sector,he said.
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