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Agreeing with the Reserve Bank’s third quarter monetary policy review, Managing Director of City Union Bank, Dr N Kamakodi, said that it is the best possible solution in current scenario.
“It's a balancing act aimed at bringing inflation and liquidity under control while looking at growth. It is perhaps the best possible solution to get a balanced result in the current scenario", said Dr Kamakodi.
On the option to pay interest on savings and term deposits at shorter than quarterly intervals, he said it’s only a representation. It has nothing to do with the rates for customers.
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