State Bank of India chairman Pratip Chaudhuri, yet again, took on the Reserve Bank of India (RBI) today, saying saying CRR is a "waste" for the economy and successive interest rate cuts by central bank have failed to contain inflation. "Of course, I am an incurable optimist and I had expected a 50 basis points CRR cut. I still hold that CRR is a waste for the economy," he said after RBI Governor D Subbarao unveiled the half-year review of the credit policy which had a 0.25 per cent cut in CRR..........
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