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Quote on Banking stocks under pressure after RBI Announced Incremental CRR For Banks by Dr. V K Vijayakumar, Geojit Financial Services
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Below the quote on Banking stocks under pressure after RBI Announced Incremental CRR For Banks from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
RBI’s decision to raise the CRR on bank’s incremental NDTL between May 19th and July 28th 2023 to 10% is negative for banks. This will raise their cost of funds impacting their profitability. However, since banks are experiencing good credit growth and their NPAs are declining, they can easily absorb this marginal additional cost.
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