April 2, 2014 / 10:17 AM / 3 years ago

India cbank deputy says banks should cut HTM holdings

MUMBAI, April 2 (Reuters) - Reserve Bank of India Deputy Governor H.R. Khan said banks needed to bring down the ratio of debt under the held-to-maturity category to 23 percent to comply with a previous mandate asking lenders to do so by the end of March.

Separately, RBI Governor Raghuram Rajan said the central bank was not averse to picking up dollars from currency markets on occasions of volatility. The central bank has been spotted by traders buying dollars recently to build up foreign exchange reserves.

The RBI officials were speaking at a teleconference with analysts after the policy review on Tuesday. [ID:ID:nL4N0MT0LV] (Reporting by Suvashree Dey Choudhury and Archana Narayanan; Writing by Neha Dasgupta; Editing by Rafael Nam)

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