Comments of Ms Chanda Kochhar, MD & CEO, ICICI Bank on RBI Credit Policy

Comments of Ms Chanda Kochhar, MD & CEO, ICICI Bank on RBI Credit Policy:

“The decision to hold policy rates was expected given the rate cut just a few weeks ago, and in line with the central bank’s approach of observing the inflation trends over a period of time before taking policy action. Several regulatory measures announced in the policy are very welcome. These include measures to enhance the ability of bankers to protect their interests as well as maximise the value of assets created in the economy. The introduction of differential rate structures for non-callable deposits will help banks in asset-liability management. The liberalisation of outward remittance limits reflects the substantial reduction in our vulnerability to external events.”