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Using Liquidity the Reason Behind Banks Rates Cutting: Arun Jaitley
April 14, 2017
As some parties, including the ruling NDA, chided demonetization in the Rajya Sabha, suggesting it didn’t have a positive impact on credit growth, Finance Minister Arun Jaitley responded by saying that the reason banks have been cutting the rates lately is because they want to use the liquidity that’s available to them.
Jaitley said that regardless of the decisions taken by the RBI on the monetary policy, the banks had cut their rates down by 80 to 85 BPS in the month of January for their own personal reasons.
