Repo Rates Cuts Soon: The industry has expressed hope that the Reserve Bank of India's (RBI) decision to keep the policy rate unchanged in the second bi-monthly monetary review meeting of the current financial year will pave the way for further rate cuts. The RBI has kept the repo rate unchanged at 6.5 percent in the monetary review on Thursday amid softening inflation.
There was an increase of 2.5 percent
Let us tell you that after increasing the policy rate by 2.5 percent six consecutive times since May 2022, the central bank stopped this process in April. Saket Dalmiya, president of the Ph.D. The Chamber of Commerce and Industry said that this pause would boost growth. “We look forward to the continued support of the government and the RBI to sustain economic growth and address inflationary pressures.”
FICCI President gave information
Subhrakant Panda, President of FICCI said that it was already expected to keep the policy rates unchanged. By not changing rates, RBI is keeping a constant eye on inflation while promoting growth.
Get the banking system working properly
Deepak Sood, secretary general of another industry body Assocham, said while the Monetary Policy Committee (MPC) is focused on reining in inflation, 'we are confident that the RBI will ensure that there is adequate liquidity in the banking system'. remain strong and loan growth remains strong.
Prepaid Rupay Forex Card to be released
ASSOCHAM has taken other steps like allowing the issuance of Prepaid Rupay Forex Card for international travelers, simplification of guidelines under FEMA for Authorized Persons in the foreign exchange market, and simplification of India bill payment system. Also appreciated.
Dhruv Agarwal, CEO of Housing.com
Group said that the decision to keep policy rates unchanged is particularly good from the point of view of the real estate sector. HBits founder Shiv Parekh said that the immediate impact of RBI's decision will not be that much, but it will bring stability to the real estate sector.
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