Arun Tiwari, CMD, Union Bank of India said confidence of getting cash whenever needed will return back for people in a month or so. He said RBI is now in a better position to supply currency.
Sajen Peter, an independent director of State Bank of Travancore and a former additional chief secretary to the Kerala government, has objected to the way the bank's merger with parent State Bank of India being done.
Larger gains from the merger of associate banks will be seen only over 1-2 years, B Sriram, MD and Group Executive- National Banking at State Bank of India.
The bank will now start working on a merger process which will be completed by March 2017, says VG Kannan, Managing Director & Group Executive, SBI.
The bank has cut its base rate from 10.15 percent to 9.95 percent effective October 5, 2015
Other than UCO Bank, State Bank of India, Bank of India, Andhra Bank and State Bank Of Travancore have also cut their base rates.
State Bank of Travancore has set the market abuzz by cutting base rates by 10 bps to 10.15 percent. In an interview to CNBC-TV18, VR Iyer, CMD of Bank of India, talks about the bank‘s outlook on rate cuts.
V Raghu, ED at Repco Home Finance says borrowers who found it difficult to bring down down-payment will benefit from this move.