#C Rangarajan #CRR #RBI #TheySaidIt
The Reserve Bank of India needs to bring down the cash reserve ratio (CRR) and control credit flow through open market operations, C Rangarajan, chairman, Prime Minister’s Economic Advisory Council, said on Thursday.
Reuters
The CRR is the proportion of deposits banks must set aside with the RBI.
Earlier this month, the country’s largest public sector lender State Bank of India had sought scrapping of CRR, which stands at 4.75 percent.
Reuters
The move comes days after Pratip Choudhury, chairman of the country’s largest bank State Bank of India, kicked off a debate when he called for the removal of CRR.
#CRR #Pratip Choudhury #RBI #SBI #ToWhatEffect
RBI Governor D Subbarao on Tuesday “announced” the formation of a committee with K C Chakrabarty and Pratip Chaudhuri to look into the issue of Cash Reserve Ratio (CRR) but only to retract shortly later on the “joke”.
#D. Subbarao #NewsTracker #RBI
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