RBI governor Shaktikanta Das to meet bank heads on 21 February on transmission of rate cut to borrowers

Earlier this month, the RBI cut the benchmark interest rate by 0.25 percent to 6.25 percent.

Press Trust of India February 18, 2019 13:38:14 IST
RBI governor Shaktikanta Das to meet bank heads on 21 February on transmission of rate cut to borrowers
  • The RBI said transmission of monetary policy decisions is important

  • Earlier this month, the central bank cut the benchmark interest rate

  • Finance Minister Arun Jaitley said India needs fewer and mega banks which are strong

New Delhi: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said he will meet heads of public and private sector banks this week to discuss transmission of interest rate cut to borrowers.

Speaking to reporters after Finance Minister Arun Jaitley addressed the board of the central bank, he said transmission of monetary policy decisions is important.

He said he will meet the CEOs of public and private sector banks on 21 February.

Earlier this month, the RBI cut the benchmark interest rate by 0.25 percent to 6.25 percent.

Commenting on mergers in the banking space, Jaitley said India needs fewer and mega banks which are strong.

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