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E-mail ID will not be published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.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • Time and tide are ripe for megaplans such as Sagarmala

    To say that India’s infrastructure is in urgent need of upgrade would be to state the obvious.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

China looks to India for balance

Almost a third of the total world population lives in ...

Zehra Naqvi

Love and its stories

People must have bread. They can live without stories. No, Hameeda, ...

Dharmendra Khandal

Tiger in urban landscape

Ranthambhore is in a no-win situation. Just a few days ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture