A formal debate on whether or not to continue with CRR would be most welcome. CRR is an important monetary tool in the hands of the RBI to control liquidity in the system, both in terms of maintaining a reasonable level of inflation and having conducive interest rates for the growth of the economy. From the bankers’ view point, CRR is presently not fetching any value and their concerns are understandable as income, profit and resources are all now under serious strain.
- S Umashankar, Nagpur (HBL)
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