By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
BusinessLogrBusinessLogr
Aa
  • Home Beauty
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Reading: Bankers rule out rate cuts as RBI keeps key rates unchanged
Share
BusinessLogrBusinessLogr
Aa
Search
  • Home Beauty
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
BusinessLogr > Industry > Bankers rule out rate cuts as RBI keeps key rates unchanged
Industry

Bankers rule out rate cuts as RBI keeps key rates unchanged

deep
Last updated: 2016/01/03 at 5:08 PM
deep Published January 3, 2016
Share
2 Min Read
SHARE

Bankers rule out rate cuts as RBI keeps key rates unchanged

Bankers on Wednesday ruled out a reduction in interest rates even as the Reserve Bank kept key policy rates on hold.

Bank of India Chairperson V R Iyer said there was no room for cutting lending and deposit rates at the moment.

“Inflation is very high and there is hardly any scope for us to reduce the interest rate on deposits, at least at the year end. Absolutely, we will not be able to do that at the moment,” Iyer said, adding that Immediately there will not be any room for the bank to reduce the base rate.

State Bank of India Chairperson Arundhati Bhattacharya said: “It really hurts the depositors and we would not like to do (cut rates) that. Our rates are still higher than what they were on July 15, I see no immediate response towards the rate cut.”

The chairman of south-based, Indian Overseas Bank, M. Narendra said it would not be possible to cut rates at this juncture as the bank is already providing loans to many sectors at lower interest rates.

Bankers, however, say they may look at cutting bulk deposit rates.

“In view of the fact that liquidity is ample in the system, we will definitely be looking at the rates and we will try to see if something needs to be done…may be for the bulk (depositors) we might look at doing something,” Bhattacharya said.

Iyer also added that the bank will be able to take a call and reduce the bulk deposit rate.

In a surprise move, the Reserve Bank today left the repo rate unchanged at 7.75 per cent, while the cash reserve ratio (CRR) too is retained at 4 per cent.

[“source-businesstoday”]
[“source-businesstoday”]

You Might Also Like

FedEx Office Expands Same Day Delivery to 1,800 American Cities

What is Visme and How Do I Use It for Business?

Link Building Lessons from the Real Estate Industry

Shamita Shetty: None of my best friends are from the film industry

Google Web Designer HTML5 Tool is Updated

TAGGED: Bankers rule out rate cuts as RBI keeps key rates unchanged

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
deep January 3, 2016
Share this Article
Facebook Twitter Email Print
Share
Previous Article Concor: near-term headwinds will weigh on valuations
Next Article SBI slashes home loan rates by up to 0.4 per cent

Most Viewed Posts

  • 20 Fitness Franchises: Planet Fitness and Beyond
  • Choosing the Right Legal Structure For Your Business
  • bmo harris express loan payment
  • payday loans that work with chime bank
  • find a loan shark on craigslist

Most Viewed Posts

  • 20 Fitness Franchises: Planet Fitness and Beyond
  • Choosing the Right Legal Structure For Your Business
  • bmo harris express loan payment
  • payday loans that work with chime bank
  • find a loan shark on craigslist

Recent Posts

  • The Essence of Public Storage Units
  • Guide to Retirement Planning: Putting Money Into the Future

FOXIZ

© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?