...........Rajan drew attention to the Nachiket Mor committee on priority sector lending. “These are necessary changes in the system and should not be seen as tied to the monetary cycles,” he added. Banks have been asking the RBI to bring down pre-emptions such as SLR and do away with CRR or bring it down to below 3 per cent. The RBI governor admitted that the reduction in SLR would not make a significant impact as banks would continue carrying excess SLR for the “foreseeable future”.............
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