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Wednesday, August 1, 2012

SLR cut will help improve liquidity in the system: Corporation Bank

Corporation Bank has said that the RBI’s move to cut SLR will help improve liquidity in the system.

The Chairman and Managing Director of Corporation Bank, Mr Ajai Kumar, told Business Line that liquidity will further improve in the system, and interest rates may see some respite.

“As far as our bank is concerned, we will have a liquidity addition of around Rs 1,400 crore,” he said.

Stating that Rs 60,000 crore will be released at the industry level, Mr Kumar said this may be used for credit expansion. “However, credit offtake would depend on the macro-economic growth fundamentals and overall demand in the economy,” he added.


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