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E-mail ID will not be published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

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

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

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture