State Bank of India today said RBI's direction to oil companies to procure half of their dollar requirements directly from a select group of PSU banks will not help stem the fall in rupee.
"I don't think it increases overall availability of dollars or it improves the rupee-dollar price," SBI Chairman Pratip Chaudhuri told reporters after the bank's annual general meeting here.
From: http://ping.fm/GCkow
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