Time to formally link rates to repo, says RBI Governor Shaktikanta Das

Shaktikanta Das likely to initiate required steps in coming weeks

Reserve Bank of India Governor Shaktikanta Das on Monday said the time had come to formalise the linking of lending rates on new loans to external benchmarks like the repo rate. “We are constantly engaged with banks with regard to faster and greater transmission of the monetary policy rates. Many banks like SBI (State Bank of India) and some others have already linked new loans to the external benchmark (repo rate). I expect the process to become faster,” Das said in his keynote address at the annual banking conference organised by Federation of Indian Chambers of Commerce and Industry and