Ahead of RBI's monetary policy on June 30, SBI feels that CRR cut is the need of the hour and more relevant than a repo and a reverse repo cut. SBI seeks CRR cut by 75-100 bps and interest rates by 25-50 bps by the end of the fiscal. On the side line, A Krishna Kumar, MD, SBI also spoke about the development on Kingfisher Airline, reports CNBC-TV18.
"We have been consistently saying right from the start that it's up to the Kingfisher management to bring in some equity and repay the loans to the various banks. We do not like to shut down Kingfisher, but we also need to take measures as taken in the last couple of weeks. We have asked Kingfisher to start the process of valuation of the noncore assets so that we know how much we could get if they were disposed off," says Kumar Below is the edited transcript of his interview to CNBC-TV18. Q: How much could be raised from the Goa property and vacant office of Kingfisher?
A: At the moment I don't know. Once the valuation is done we will have the correct estimate. Q: And, recovery proceedings have not started?
A: Right now, we are not interested in starting recovery proceedings. We would like the company to flourish and prosper, but then at the same time they have to repay the bank loans.
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