State banks would welcome CRR cut - official

INDIA-BANKS-CRR-CUT-HOPES-RBI:State banks would welcome CRR cut - official

 

REUTERS - India's state-run banks would welcome a 1 percentage point cut in the country's cash reserve ratio (CRR) by the Reserve Bank of India (RBI) at its next monetary policy meeting, a senior finance ministry official said on Tuesday.

The comment came from Financial Services secretary D.K. Mittal, who is in-charge of all state-run financial institutions.

(Reporting by Manoj Kumar; Editing by Gopakumar Warrier)