Banks can lower interest rates if CRR cut further: SBI

Ahead of RBI’s mid-quarterly policy review, State Bank of India today said a cut in cash reserve ratio (CRR) will give a room to banks for lowering interest rates.

“More the RBI cuts CRR, greater will be the ability of banks to reduce rates,” SBI chairman Pratip Chaudhuri told reporters in Bangalore.

Cash Reserve Ratio (CRR) is the portion of deposits which banks are required to keep with the Reserve Bank.

On 9 March, the central bank had cut CRR by 0.75 percent to 4.75 per cent. In January, too, RBI had reduced

FM asks public sector banks to manage non-performing assets

Concerned over rising bad loans, Finance Minister Pranab Mukherjee today asked the banks to take steps to manage their non-performing assets (NPAs) which have grown on account of economic downturn.

"NPAs have grown at an uncomfortable