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Foreign currency non-residential

Interest rates: Raghuram Rajan calls banks' bluff

Interest rates: Raghuram Rajan calls banks' bluff

Tue, Aug 09, 2016

Rajan said, "Earlier, some bankers said that it was the lack of liquidity that was holding rates high, now I hear from some that it is fear of the FCNR(B) redemptions that is making them reluctant to cut rates. I have a suspicion that some new concern will crop up once the FCNR(B) redemptions are behind us."

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