This joke from the Governor has conveyed sufficient message to Mr Chakraborty RBI Dy Governor and Mr Chaudhari SBI chief. The doubt is whether these two persons are cutting jokes on each other by referring to some important policy issues like CRR. If it is so, it is time for both to be in different places as the issue of CRR has created lot of controversies and even the Chamber of Commerce has commentd on it saying that CRR without interest should continue.The economy is having its own problems and the senior bankers should discuss something serious to prune down NPAs and pass on the benefits to other stake holders The issue of reducing interest is dependent on efficient management of assets and liabilities factoring therein the regulatory requirements. The CRR has been there since the establishment of the RBI and it cannot be withdrawn just like that when the banking system is not able to recognise the ills of the economy and adjust itself with the safe management of public money.
( This is in response to a report on CRR committee appeared in Business Line dated 4th Sep 2012)
( This is in response to a report on CRR committee appeared in Business Line dated 4th Sep 2012)
from: Dr.T.V.Gopalakrishnan
Posted on: Sep 4, 2012 at 20:47 IST
