Banks said to ask RBI to delay April liquidity rule

The banks are arguing that the rules could hamper efforts to boost lending

- Bloomberg

Some of India's largest lenders are planning to request concessions from the new head of the nation's central bank regarding proposed liquidity regulations, arguing the rules could hamper efforts to boost lending, according to people familiar with the developments.

Banks plan to urge the Reserve Bank of India to delay the implementation of the new liquidity coverage ratio norms, currently due to take effect on April 1, according to the people, who declined to be identified discussing private matters. The request will be made through the Confederation of Indian Industry, which will meet recently-appointed RBI Governor Sanjay Malhotra in the coming days, the people said.