Abolishing CRR: Who said what

CRR (cash reserve ratio) is not applicable to insurance companies, non-banking finance companies and mutual funds that also mobilise funds from the public… it is an unfair imposition on banks, says Pratip Chaudhuri, Chairman, State Bank of India, to wire agencies.

Print Edition: Sep 30, 2012

Pratip Chaudhuri

CRR (cash reserve ratio) is not applicable to insurance companies, non-banking finance companies and mutual funds that also mobilise funds from the public… it is an unfair imposition on banks
Pratip Chaudhuri, Chairman, State Bank of India, to wire agencies

K.C. Chakrabarty

We have to function within the regulatory system. If you are not able to do business, then you will have to find out something else to do
K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, to wire agencies

K.V. Kamath

It is only one of the monetary policy tools available. India has always had a CRR as long as I can remember
K.V. Kamath, Chairman, ICICI Bank, to wire agencies

Bhaskar Sen

I don't see any logic in phasing out CRR as the economy already has excess liquidity at this point
Bhaskar Sen, Chairman and Managing Director, United Bank of India, in Mint

In the absence of CRR, banks would, in any case, keep reserves in the cash vault. Reserves up to 3 per cent should be interest free and reserves above that should be eligible for interest payment
D.H. Pai Panandiker, President, RPG Foundation, to wire agencies

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Abolishing CRR: Who said what