SBI not affected by liquidity squeeze measures undertaken by RBI

SBI not affected by liquidity squeeze measures by RBI
State Bank of India (SBI) has said that it is not impacted much by the recent liquidity tightening measures taken by the Reserve Bank to curb rupee volatility.

Speaking to the reporters, SBI Managing Director and Head of National Banking A Krishnakumar said, "As far as SBI is concerned, we have not seen anything adverse. The same liquidity condition which we had last week continues this week."

Earlier, the RBI raised the short-term rates by 2 per cent to 10.25 to curb rupee volatility, putting a cap on borrowing from repo at Rs 75,000 crore and also announced sale of Rs 12,000 crore worth of government bonds to squeeze out liquidity from the system, with an aim of curbing speculative trades in rupee.

Read more about: state bank of india
Story first published: Friday, July 19, 2013, 9:22 [IST]
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