SBI chairperson Arundhati Bhattacharya says banks are not in position to compress margins as they have to provide for credit costs
Unless banks get the confidence to lend, there is no way the economy will get the benefit of low interest rates
In all, about 15 banks were named in the suit for alleged manipulation of the ISDAfix rate, the benchmark for interest rate derivatives
He said banks are now expected to do effective transmission of rates in light of the recent monetary policy easing by RBI
Justifying slashing of interest rate on small saving instruments like PPF, said high interest rate prevent growth