Lending rate benchmarks (or base rates) of banks are expected to be responsive to monetary conditions, according to Anand Sinha, Deputy Governor, RBI.Speaking at the launch of IDBI Bank’s online portal for selling Certificate of Deposit, Sinha said the banking system is supposed to be responsive to monetary conditions, and to that extent the RBI would like banks to respond by adjusting their base rate (read: effect a cut)...........
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