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How Are RBI Moves Impacting Banks?

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August 23: K. Harihar, Head of Treasury, First Rand Bank says, “It was very evident that the Reserve Bank of India’s (RBI) measures could have a collateral damage. Hence, the central bank had to calm the nerves and say that the tightening was a short term move.” However, he also adds that the RBI acted in time to allow some credit growth, which in turn freed the correlation between depreciation in rupee and monetary tightening.