Will meet bank heads on Feb 21 on transmission of rate cut: Shaktikanta Das

Reserve Bank Governor Shaktikanta Das Monday said he will meet leaders of public and private sector banks this week to address the transmission of the interest rate cut to borrowers.

Speaking to reporters after Finance Minister Arun Jaitley addressed the board of the central bank, he said transmission of monetary policy decisions is important.

He said he will reach the CEOs of public and private sector banks on February 21.

Beginning this month, the Reserve Bank cut the benchmark interest rate by 0.25 per cent to 6.25 per cent.

Reflecting on mergers in the banking space, Jaitley said India needs fewer and megabanks which are powerful.

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