Banks To Skip Iba Meet After Credit Policy Announcement

The IBA meeting will not be take place primarily because the banks have been repeatedly accused of `cartelisation.

Banks usually decided crucial issues like lowering of PLR in the meeting.

PSU bank heads pointed out that this time the RBI governor C Rangarajan has indicated that there should be a quick decision taken on lending rates of individual banks following the monetary policy declaration.

There is a likelihood of immediate reduction in lending rates being announced, in case there is a reduction in CRR requirements, stated the head of a PSU bank.