Bankers rule out cut in lending rates following reduction in CRR

Bankers on Saturday said RBI's more-than expected 0.75-percentage point cut in cash reserve ratio (CRR) will ease the liquidity strain, but ruled out any immediate reduction in lending rates. "We were expecting 50 basis points cut in the CRR and hence, are pleasantly surprised by the Reserve Bank's move... banks will not cut lending rates immediately though," SBI Chairman Pratip Chaudhuri said.......

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