From THE HINDU group of publications
Sunday, January 21, 2001
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From THE HINDU group of publications Sunday, January 21, 2001 |
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RBI ready to cut CRR below 3 pc
The RBI Deputy Governor, Dr Y. V. Reddy, expressed the view that the RBI was committed to reducing the cash reserve ratio (CRR).
Speaking at the Bank Economists Conference, the Deputy Governor said that the central bank was prepared to reduce the CRR to even below 3 per cent. However, he clarified that this would be subject to fiscal adjustments and global market conditions. He added that the RBI was considering the possibility of increasing the flexibility in the statutory liquidity ratio requirements. He also felt that the phasing out of the refinance window would change the role of the bank rate.
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