Subbarao prods banks to hasten monetary policy transmission

.....“Banks should respond and it is true that some have and some have not. There are several reasons why monetary transmission is as not agile as it should be, but we [the RBI] are conscious of the need for monetary transmission,” Dr. Subbarao said, while addressing reporters after the central bank’s board meeting here. “Nevertheless, we are very conscious of the need to be supportive of economic growth. When we calibrate the short-term policy interest rate…banks should respond by calibrating lending rates,”...........

Board meeting

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