Jamshedpur: Not hiking diesel prices could have led to suppressed inflation, State Bank of India Chairman Pratip Chaudhuri said on Friday. Diesel prices were raised by Rs 5 a litre on Thursday night.
The government had no choice but to increase the price of diesel because of the increasing loss incurred by the oil companies, Chaudhuri, who was in the steel city to take part in a function, said.
While the Indian Oil Corporation (IOC) had alone suffered a loss of Rs 24,000 crore in the last quarter, the figure was Rs 50,000 crore for the oil companies taken together, he said.
The SBI Chairman said the international oil price was also up and if diesel prices had not been increased, the country could have faced a suppressed inflation....more
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Mumbai: State Bank chairman Pratip Chaudhuri on Wednesday said he expects the Reserve Bank to leave the key policy rates unchanged, but sees a 100 basis points reduction in the cash reserve requirements (CRR) on September 17, which can help banks trim base rates. The monetary authority is expected to take call on the interest rate regime on September 17 at mid-quarter review, and it is expected that Governor D...
10:53 PM, Sep 05, 2012
Kancheepuram: A top RBI official on Monday snubbed SBI Chairman Pratip K Chaudhuri for his remarks suggesting abolition of Cash Reserve Ratio, bluntly telling him that he has to find "some other place" if he could not work as per the central bank's regulatory environment. "...if the SBI Chairman is not able to do business as per our regulatory environment, he has to find some other place," RBI Deputy Governor...
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