As RBI slashes rates, public sector banks lead in loan rate reductions
Public sector banks became the first to act on the RBI’s policy signal by promptly cutting their Repo Linked Lending Rates (RLLR).
Nobel laureate Abhijit Banerjee on Tuesday suggested that reducing government equity in public sector banks to below 51 per cent would end bankers’ fear of psychosis.
Banerjee, who earlier met with Prime Minister Narendra Modi, made the statement while addressing a news conference here in New Delhi.
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In a brief interaction, Banerjee said that during his meeting with the prime minister the latter had joked that the media was trying to trap him and get anti-Modi comments out of him.
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(With input from agencies)
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