Banks asked RBI to cut down rates

It has been reported that the banks have asked the the apex bank to reduce the repo rate – the rate at which apex bank lends money to other banks. Banks are facing slowdown in the credit growth therefore they want RBI to cut down the rate.

Growth in the loans have fall down to 11% from 16.8% and the deposit growth has stood at 13.6%.Last day the RBI has organized a meeting to discuss the issue with the deputy governor and representatives from several banks fund houses and microfinance institutions.

The repo rate, eight per cent as of now, has been unchanged since the central bank’s first bi-monthly monetary policy review in April.Raghu rajan stated that at present inflation is high and therefore it is difficult to slow down the rate.

SOURCE: rupeetimes

Read More :

Updated: 17/09/2014 — 10:45 AM

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
COPYRIGHT © 2017. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy       

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.