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Will Meet Bank Heads On Feb 21 On Transmission Of Rate Cut, Says RBI Governor

Reserve Bank Governor Shaktikanta Das Monday said he will meet heads of public and private sector banks to discuss the transmission of an interest rate cut to borrowers.

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Reserve Bank Governor Shaktikanta Das Monday said he will meet heads of public and private sector banks this week to discuss the transmission of an interest rate cut to borrowers.

Speaking to reporters after Finance Minister Arun Jaitley addressed the board of the central bank, he said transmission of monetary policy decisions is important.

He said he will meet the CEOs of public and private sector banks on February 21.

Earlier this month, the Reserve Bank cut the benchmark interest rate by 0.25 per cent to 6.25 per cent.

Commenting on mergers in the banking space, Jaitley said India needs fewer and megabanks which are strong.


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