CRR cut is a welcome step: Chanda Kochhar
The CFO and Joint Managing Director of ICICI bank, Chanda Kochhar has welcomed the move by RBI to cut CRR by 150 basis points.
By ET Online |
MUMBAI: The CFO and Joint Managing Director of ICICI bank, Chanda Kochhar has welcomed the move by RBI to cut CRR by 150 basis points. In a press note Kochhar was quoted as saying ���the reduction in the cash reserve ratio (CRR) is a welcome step given the current rupee liquidity conditions. This should have a cooling effect on the market and ease liquidity.��� (Watch)
Commenting on ICICI bank���s liquidity position, Kochhar said, ���our bank has adequate rupee liquidity in the context of the current environment. We also have liquidity of Rs. 12,000 crore in our overseas subsidiaries. The Bank has never used rupee funds for its international growth initiatives.���
Commenting on ICICI bank���s liquidity position, Kochhar said, ���our bank has adequate rupee liquidity in the context of the current environment. We also have liquidity of Rs. 12,000 crore in our overseas subsidiaries. The Bank has never used rupee funds for its international growth initiatives.���
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