UPSCSSCBANKINGSTATE-PSC
RBI Governor urged banks to pass on rate cuts to boost economic growth and improve customer service.
Summary
RBI Governor Sanjay Malhotra urged banks to transmit recent policy rate cuts to consumers to stimulate economic expansion. He also emphasized the need for banks to improve efficiency, promote financial inclusion, and enhance customer service through technological advancements.
Key Points
- RBI Governor: Sanjay Malhotra
- Focus: Banks passing on policy rate cuts to customers.
- Objective: To support sustainable economic growth.
- Emphasis: Efficiency gains, financial inclusion, and better customer service.
- Means: Technological advancements in the banking sector.
Full Article
RBI Governor Sanjay Malhotra urged public and private sector banks to pass on recent policy rate cuts to customers to boost economic growth. He highlighted banking sector improvements but cautioned against complacency, emphasizing efficiency gains and financial inclusion through technological advancements and better customer service.
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