There is a scope of further reduction in the repo rate: Sandip Somany, President, FICCI
NEW DELHI, 4 April 2019: Commenting on first bi-monthly monetary policy of 2019-20 announced by RBI earlier today, Mr. Sandip Somany, President, FICCI said, "We welcome the 25 basis points cut in repo rate by the RBI, though we had expected a larger cut given benign inflation and slowing industrial as well as exports growth and liquidity concerns. We hope that the two consecutive cuts in the repo rate would translate into lower lending rates for both retail and corporate credit. This would give an impetus to the domestic economy through greater consumption demand as well as private investments. This is important as we do not foresee much impetus coming from external sources of growth as the global economy continues to show signs of moderation."
FICCI MEDIA DIVISION
Leave your Comment