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....
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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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