RBI Governor asks private banks to pass on rate cut benefits faster

RBI is widely expected to go in for a 50 basis points rate cut at its review next week

Reserve Bank of India (RBI) Governor Shaktikanta Das has exhorted private banks to pass on its policy rate cuts faster, even as he sought their views on various sectors of the economy. 

Senior bankers also indicated that the central bank’s policy review to be held on August 7 may detail the flight path for faster transmission of lower interest rates. The RBI is widely expected to go in for a 50 basis points (bps) rate cut at its review next week. 

At a meeting with a dozen chief executive officers (CEOs) of state-run banks as well as private banks in Mumbai on