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Bankers seek a cut in CRR
Citing bleak macroeconomic condition, bankers have sought a cut in the percentage of deposits they keep with the central bank, or CRR, as well as in the policy rates from the Reserve Bank in the forthcoming third quarter monetary policy announcement.
“We have pointed out to the Governor the slowinggrowth indicators as well the inflation index. We have also told him that if growth were to be taken as a priority, then it calls for a reduction in the CRR as well as policy rates,” bankers umbrella body Indian Banks Association (IBA) Chief Executive K Ramakrishnan told PTI here after the customary pre-policy interaction with the RBI mandarins.
The RBI is scheduled to come out with its third quarterly monetary policy review on January 24.
Citing bleak macroeconomic condition, bankers have sought a cut in the percentage of deposits they keep with the central bank, or CRR, as well as in the policy rates from the Reserve Bank in the forthcoming third quarter monetary policy announcement.
“We have pointed out to the Governor the slowinggrowth indicators as well the inflation index. We have also told him that if growth were to be taken as a priority, then it calls for a reduction in the CRR as well as policy rates,” bankers umbrella body Indian Banks Association (IBA) Chief Executive K Ramakrishnan told PTI here after the customary pre-policy interaction with the RBI mandarins.
The RBI is scheduled to come out with its third quarterly monetary policy review on January 24.
