Why have a few banks not used the Statutory Liquidity Ratio (SLR) relaxation?
The SLR relaxation is not actually an SLR cut. So, the banks have used it for the people who were borrowers. I don’t think there was an emphasis that people will borrow from that and then lend it in the market. So, people will only use it either if you have those borrowers, or if there is a mismatch, or if the call rate is higher than the finance facility. Other banks will just leave it that way. There is a certain range of SLR that needs to be maintained according to the RBI norms. The range is somewhere between 1.5 per cent and 2.5 per cent and we are within that figure. Please remember that to maintain our balance sheets and to make sure we take care of defaults, we require to maintain some excess SLR. Can you give us a sense of your credit card business since there are concerns on delinquency after you raised the charges? Almost 70 per cent of our cards are sold to our own customers. So, the delinquency in cards business has been totally in line with our expectations. When we incre
