RBI cuts repo rate by 25bps to 6.50%, narrows policy rate corridor to 50bps from 100 bps - Moneylife

RBI cuts repo rate by 25bps to 6.50%, narrows policy rate corridor to 50bps from 100 bps - Moneylife



My VIEW:

Beyond interest rates...

The following announcement which has come as part of Monetary Policy Statement is indicative of a welcome shift in RBI’s approach to branch licensing:
“Rationalisation of Branch Authorisation Policy: Currently, banks provide services through a variety of business outlets – branches; extension counters; satellite offices; mobile branches; ultra small branches and the like. The current policy approach is to facilitate adequate outreach of banking outlets in unbanked areas while at the same time providing autonomy to banks to decide their business strategy. Given that regulations are written in terms of branches, with a view to facilitating financial inclusion and providing flexibility on the choice of delivery channel, it is proposed to redefine branches and permissible methods of outreach keeping in mind the various attributes of the banks and the types of services that are sought to be provided.”
There is also a proposal to have more categories of ‘Differentiated Banks’ about which clarity will emerge once RBI comes out with the discussion paper on the subject.

M G Warrier

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