NEWS & ADVICE : SAVINGS ACCOUNTS
SBI chief expects RBI to cut key policy rates
By Neelima Shankar
Mar 19, 2013
Print    Email    RSS   

According to State Bank of India Chairman Mr. Pratip Chaudhuri, softening of lending rates will be helpful for kick-starting the investment cycle in the country.

Though the country has shown rapid growth, mainly in the manufacturing sector, the key interest rates were much lower.

Mr. Pratip Chaudhuri said, "Rates of interest need to come down further. Our base rate is at 9.70 per cent, I would like to see a base rate of something like 9.50 per cent because internationally the rates are so low".

SBI chief said that the lending rates in the banking system could soften if the RBI reduces key policy rates in its mid-quarter review of monetary policy, which is due on March 19, 2013.

"Both the CRR and the repo rate should be cut by 50 basis points each. CRR cut is more important as it releases primary liquidity into the banking system. Whereas a repo rate cut is more of a signal/an indication (of the direction of interest rates). It is not very material but, yes, the cost of refinance goes down," said Mr. Pratip Chaudhuri.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
How to check balance in savings bank account
Carnival of Indian Personal Finance Blogs #4
Personal Finance for the 21st century...
12 point conduct checklist for bank and...
Steps to file Income Tax return online


how to change register mobile number trpugh online
transaction done on 22.02.17 time 21:12 but not recd...
Bommanahalli ℂall Girℒs Iℕ...
how to get CIF no. of my SBI account
How Find The CIF Number
i want to know my saving bank account balance OF...

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive