RBI Governor to respond on CRR cut: FM

Y V Reddy, Governof of Reserve Bank of India (RBI), will meet bankers shortly and respond to their question on 1% cut in cash reserve ratio (CRR), Finance Minister P Chidambaram said today.

"Governor (of RBI) will respond. Banks are meeting the Governor today or tomorrow," he added.

Asked if he will support higher short-term interest rates, Chidambaram said: "Wait for the (RBI) Governor."