The finance ministry is closely monitoring the transmission of monetary policy rates at public sector banks (PSBs) and is collating data on the lending rate cuts effected by banks, following a series of rate cuts by the Reserve Bank of India (RBI), a finance ministry official said.
Sources said the concerns related to slower monetary rate transmission were raised in the 20th meeting of the Financial Stability and Development Council, chaired by Finance Minister Nirmala Sitharaman, on June 19, where all the financial regulators were present. In the aftermath of the meeting, the ...
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