.........The spat over CRR would have ended, had not two key policymakers weighed in on the side of the SBI. Finance Minister P. Chidambaram thought the RBI should pay an interest of 7 per cent on such holdings, adding that the central bank should consider the CRR as one of several monetary tools for credit control in the pursuit of its anti-inflationary objectives. More obliquely, the chairman of the Prime Minister’s Economic Advisory Council C. Rangarajan added his own wisdom to the idea of the CRR as an outmoded weapon for monetary tightening, one that should be used, he advised, “in extraordinary circumstances.”..................
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment