Mumbai, July 17: Ahead of the quarterly review of its annual monetary policy, the Reserve Bank today said that it would ensure a benign and stable interest rate regime to safeguard the common man’s interest and ensure adequate liquidity in the system.
“The RBI’s effort is to ensure a benign and stable interest rate regime … it is for ensuring adequate liquidity in the system. We are trying to keep interest rates benign,” Reserve Bank Deputy Governor K C Chakrabarty told reporters here.
In the face of high competition in industry, banks, particularly those in the private sector, will have to lower lending rates in the period ahead, Chakrabarty said on the sidelines of the Skoch BFSI summit being held here.
–PTI