Assocham welcomes RBI's move
Welcoming the decision of the RBI governor for not effecting any changes in CRR, reverse repo and bank rate in the central bank's monetary preview policy today, industry body Assocham stated that RBI should have maintained the status quo in repo ...
By TNN |
NEW DELHI: Welcoming the decision of the RBI governor for not effecting any changes in CRR, reverse repo and bank rate in the central bank's monetary preview policy today, industry body Assocham stated that RBI should have maintained the status quo in repo rate too.
"The hike in repo rate by 0.25% will eventually raise the cost of borrowings with interest rates slightly moving upward," according to Assocham president VN Dhoot.
He expressed hopes that the hike in short term repo rate by 0.25% will not fuel inflation to an alarming level and ensure that the economy grows at the rate of 8.5% in the current fiscal.
"The hike in repo rate by 0.25% will eventually raise the cost of borrowings with interest rates slightly moving upward," according to Assocham president VN Dhoot.
He expressed hopes that the hike in short term repo rate by 0.25% will not fuel inflation to an alarming level and ensure that the economy grows at the rate of 8.5% in the current fiscal.
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