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1-min read

Will Meet Bank Heads on Feb 21 on Transmission of Rate Cut, Says RBI Guv

Reserve Bank Governor Shaktikanta Das said transmission of monetary policy decisions is important.

PTI

Updated:February 18, 2019, 1:10 PM IST
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Will Meet Bank Heads on Feb 21 on Transmission of Rate Cut, Says RBI Guv
File photo of RBI Governor Shaktikanta Das.
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New Delhi: Reserve Bank Governor Shaktikanta Das on Monday said he will meet heads of public and private sector banks this week to discuss transmission of 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 mega banks which are strong.

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