Ex-RBI governor Rangarajan sees lending rates remaining high

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Former Reserve Bank governor C Rangarajan on Thursday said the high degree of non-performing assets will impede lending rate cuts despite a liquidity glut after the note-ban.

"The possibility of the banks reducing lending rates is not very much in the horizon. There may be some small adjustments. But I do not see the lending rates coming down because the banks do feel the pressure of the stressed assets," he said. 

He was replying to a specific question on the possibility of interest rate cuts after the surge in deposits after note ban.
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