Kolkata, Mar 27 : State Bank of India (SBI) Chairman Rajnish Kumar on Friday said RBI policy announcements are bold, decisive, compelling and with a humane touch in attenuating to the needs of the economy to fight through the pandemic.
The large rate cut, the adjustment in capital conservation buffer, the moratorium on repayments and the bazooka of conventional CRR cut and unconventional liquidity measure of incentivising banks to support CP market all will help financial markets stabilise, lead to immediate rate transmission and address the credit needs of the real economy, the SBI chairman said in a statement here.
He added that the decision of allowing Indian Banks to participate in NDF market is a positive step in broadening the market participants and better rate discovery. "Given that we are in exceptional times, RBI has played the role of championing the cause for the economy and financial system,” Mr Kumar added. (UNI)