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SBI chairman's remarks on CRR -- a discussion -- for essay writing also

SBI Chairman has suggested that CRR be reduced in stages from 4.75 at present because it is causing loss to banks.  This suggestion is not received well by RBI --

CRR is the percentage of total deposits which banks have to keep in RBI for which RBI is not paying any interest and failure to comply with that is penalised by RBI.  SBI chairman has said that existing SLR of 23% is sufficient and CRR may be reduced in phases.   He suggested if it cannot be reduced/scrapped then RBI should pay interest on such deposits with it.

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