Mangalore, Sept 17:
The RBI has responded well to industry concerns and has added to the supportive measures announced by the Government, according to Ajai Kumar, CMD of Corporation Bank.
He was responding to a query on RBI’s move to reduce CRR by 25 bps.
He said the banks have a window open to reduce their rates. However, it would depend on the ALM profile of the banks.
Ajai Kumar said that at the industry level, there would be a flow of Rs 17,000 crore in the system. The rate cut, if any, will be driven by excess liquidity and other competing factors and not just because of CRR cut, he added.
(This article was published on September 17, 2012)
Keywords: RBI mid-quarter policy review, RBI monetary policy, repo, reverse repo, cash reserve ratio, liquidity, rate cut by banks, Ajai Kumar, CMD of Corporation Bank,
Comments:
But interests of common man have been sacrificed to appease the banking fraternity.The mistake will be realised soon when the inflation gallops next month!!!!!
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