CRR cut will improve bottomline, says Karnataka Bank CEO

Private lender Karnataka Bank MD and CEO Mahabaleshwara MS on Friday said the Reserve Bank of India (RBI) slashing the cash reserve ration (CRR) by 100 basis points (BPS) from 4% to 3% will improve the bottomline of banks.

"The three months repayment moratorium on all loans without downgradation of assets will mitigate debt servicing burden and go a long way in overcoming the financial stress caused by Covid-19," he said in a statement.