The Indian industry has welcomed the Reserve Bank of India's approach to liberalize the monetary policy stance. Chandrajit Banerjee, director-general of the Industry and Confederation of Commerce and Industry of India, said the RBI has taken several measures to improve liquidity support, export revival, debt support and business ease. These are expected to receive the necessary impetus to increase at the three-tier pace, as expected by the RBI.
According to Sangeeta Reddy, president of the same industry organization FICCI, instead of cutting the repo rate, other measures have been announced which will help in reducing the interest rate. Assocham Secretary General Deepak Sood said that RBI's decisions reflect the resolve to face unprecedented situation arising out of Corona epidemic. Ashutosh Bishnoi, MD & CEO of Mahindra Manulife Mutual Fund, said that the best thing about this policy announcement is to maintain a liberal attitude for the betterment of all.
Also, Ravindra Sudhalkar, CEO of Reliance Home Finance, said the Reserve Bank's move to rationalize the threat on housing loans is welcome. Sanjay Vakharia, CEO of Spiker Lifestyle said that rates are unchanged, so high inflation is definitely a matter of concern. We are looking forward to better revival of business in smaller districts. Experts in banking and finance sector have also agreed with RBI's decision. The same RBI decision has been welcomed by all.
Also Read:
PM Modi to join virtual Durga Puja, Amit Shah will visit Bengal
Couple committed suicide, husband informed sister through e-mail
Bigg Boss 14: Hina Khan's traditional look steals hearts, see photos here
Hyundai launches E variant of Aura with special features