Monday, March 27 2006 14:35 Hrs (IST) - World Time -

Bangalore: Reserve Bank Governor Y V Reddy will meet bankers shortly and respond to their question on one per cent cut in Cash Reserve Ratio, Finance Minister P Chidambaram said today (Mar 27, 2006).

"Governor (of RBI) will respond. Banks are meeting the governor today or tomorrow," he told reporters here on the sidelines of a function when asked to comment on banks, which have said that they were looking for a one per cent cut in CRR which is the proportion of funds that banks are required to park with the central bank.

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