Mumbai: Bankers will ask for a pause in rate hikes when they meet Reserve Bank of India (RBI) Governor D Subbarao on Tuesday as a part of the pre-policy consultative process. The RBI has increased its key policy rates — repo and reverse repo — 12 times over the past one-and-a-half years to cool down inflation .. The bankers will also discuss issues like credit growth, non-performing assets and the liquidity situation prevailing in the industry. KR Kamath, CMD, Punjab National Bank, said that the meeting would be followed by an interaction with RBI deputy governor Subir Gokarn. Gokarn is likely to interact with the bankers on resource the mobilisation programme. Other bankers expected to attend the meet include P Chaudhury,chairman, State Bank of India; S Raman,CMD, Canara Bank’ Aditya Puri, MD, HDFC Bank’ and MV Nair, CMD, Union Bank of India. Justifying their demand for pause, the chief of a state-owned bank said that commodity prices have started coming down. “Equity market has also started falling. There is more uncertainty in the system. Keeping this in view, the RBI may refrain from further hikes.”
FE
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