CRR a useful tool in RBI's hands: SBI chief

Tags: News
Unlike the views of her predecessor Pratip Chaudhuri, State Bank of India (SBI) Chairman Arundhuti Bhattacharya today said cash reserve ratio (CRR) was an useful tool in the hands of regulator Reserve Bank of India (RBI).

"In my wisdom, the CRR is an useful monetary tool in RBI's hands and it depends on how it was being used by the regulator," she told reporters here.

Chaudhuri had persistently maintained that non-interest bearing CRR deposits held banks with the RBI should be done away with as it locked huge quantum of funds.

Asked about to comment on RBI governor Raghuram Rajan's view that public sector banks should be granted more autonomy by the government, Bhattacharya said that it was imperative that efficiency of the PSBs should be increased.

"PSU bank should become much more efficient for there is a need for an enabling environment," she said.

Bhattacharya said: "This is the prescription of the day which will be determined by the owner (government) and the regulator (RBI)."

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi must not be lax in weeding out mutual fund houses

    Last May, capital market regulator Securities and Exchange Board of India (Sebi) amended the Sebi (mutual funds) regulations, 1996, directing all fund

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

New model for effective education

After interacting with students and teaching community on a ...

Rajgopal Nidamboor

Let the spirit of sport pervade everyday life

Sport, like meditation, is nothing short of a spiritual act. ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture