Mumbai: State Bank of India, the country's largest lender, does not expect an increase in banks' cash reserve ratio (CRR) at the monetary policy review on January 29, its chairman said on Friday.
"I do not see any CRR hike in the monetary policy," O.P. Bhatt told reporters at a news conference ahead of a banking conclave organised by the bank from Monday.
CRR is the level of deposits banks are mandated to park with the Reserve Bank of India. It now stands at 5 percent.
"Credit growth is picking up, and excess liquidity is expected to get disbursed in the next few quarters," Bhatt said.
First Published: Friday, January 08, 2010, 17:11