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Karnataka Bank Ltd has termed RBI’s mid-quarter policy review on Monday as a cautious step.
The Managing Director of Karnataka Bank Ltd, Mr P. Jayarama Bhat, told Business Line that the RBI’s decision to keep the repo rate and CRR intact was a bit of surprise to the market.
It seems that the central bank has taken taming the inflation as primary task by keeping the policy rate and CRR intact, he said.
“RBI is taking a cautious step with a wait-and-watch situation on both domestic and international events to follow,” Mr Bhat said.
The liquidity is eased by increasing the export credit re-finance from 15 per cent to 50 per cent. This amounts to the release of around Rs 30,000 crore to the market, he said.
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