Indian banks are not ready to cut their loan or deposit rates even after the Reserve Bank of India (RBI) pared the cash reserve ratio (CRR), or the portion of deposits that commercial banks need to keep with the central bank, releasing Rs.17,500 crore for the banks to lend to companies and consumers. Bankers said the 25 basis points (bps) cut in CRR is too little to move loan rates, and only a repo rate cut by RBI will give them enough room to reduce borrowing costs for customers.........
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