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    Read the following passage carefully and answer the questions given below it.

    Reserve Bank of India Governor Urjit Patel said that banks are in a position to reduce their lending rates further as they have so far slashed interest rates only on a few products such as home and personal loans and that their weighted average lending costs are still high. The central bank, in its monetary policy review, had not only decided to hold its benchmark policy interest rates but also shifted its stance from remaining ‘accommodative’ on these key rates to ‘neutral.’ “The amount of reduction in the repo rate that we have undertaken, combined with the fact that banks have benefited immensely from the influx of CASA (current account, savings account) deposits that have come into the system, and the weighted average lending rate reduction has been considerably less,” “Given that, we feel that there is scope for further reduction in lending rates. If you see, for sectors such as housing, personal, etcetera, the reduction has been much more than for other sectors by the same bank,” the central bank governor pointed out. “So the fact is you could look into reducing the interest rate for those sectors in which very little reduction in lending rate has come about so far. Therefore, the weighted average lending rate for the system must come down,” Dr. Patel emphasised. While Dr. Patel had referred to the scope for rate cuts in the RBI’s monetary policy review as well, bankers aren’t on the same page. Bank of Baroda MD & CEO P.S. Jayakumar had ruled out any further interest rate cut in the near term. The bank has lowered its home loan rate to 8.35%. SBI chief Arundhati Bhattacharya has also pointed out that the bank has reduced its interest rates by 200 basis points since March 2015. “The RBI has reduced repo rate by 175 bps. I do not see any possibility of interest rate cut immediately,” she said. SBI had reduced its marginal cost of fund based lending rate (MCLR) by 90 bps to 8% in early January as its cost of funds came down due to demonetisation. Mr.Jaitley said that all finance ministers have a perpetual desire (for an accommodative central bank), but “at the end of the day, we all respect the decision that the RBI takes.” Concurring with the Finance Minister’s assertion that high non-performing assets in the banking system are largely a legacy issue, the RBI governor said: “The fact of the matter is that the sectors in which the NPAs have emerged over the years, do pertain to the long-gestation projects that were funded before 2011-12, for the most part.” “Therefore, almost by definition, a disproportionate amount of that is a legacy issue, although the recognition, recording and reporting of these have taken place relatively recently,” Dr. Patel said. Mr.Jaitley said that the resolution of NPAs is an ongoing process, with the Centre and the RBI putting systems in place to deal with them. “Now, it is for individual bankers to get into the exercise of resolving each one of the pending issues”.

    Which of the following had led Dr. Patel saybankers aren’t on the same page? 

    Options :-

    1. Due to the increase of deposits in CASA accounts

    2. Due to the scope for rate cuts in the RBI’s monetary policy review

    3. Due to the increase in NPA

    4. Due to demonetisation

    5. None of the above

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