Politics
Weakened Congress wondering if early elections will help
The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
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SBI Chairman says CRR cut unlikely at RBI policy
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People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009.
Credit: Reuters/Arko Datta/Files
REUTERS - The RBI is unlikely to cut banks' cash reserve ratio at its Jan 24 policy review, the chairman of State Bank of India, the country's largest state-run lender said on Tuesday.
"CRR cut is unlikely - that is my personal view. But, we have asked them to pay interest on it," Pratip Chaudhuri said.
The ratio currently stands at 6 percent.
He said it would be difficult for banks to lower deposit rates in the current environment of high interest rates.
(Reporting By Swati Pandey; Editing by Subhadip Sircar)
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