A- A A+
Last Updated : Nov 14 2019 7:01AM     Screen Reader Access
News Highlights
Chief Justice of India's office is public authority under RTI Act: SC            Apex court upholds disqualification of 17 Congress-JD(S) MLAs of Karnataka            Any party claiming majority in Maharashtra can approach Governor for govt formation: Amit Shah            PM Modi to hold bilateral talks with BRICS leaders in Brasilia            Golden Jubilee audio-visual anthem released for IFFI           

Business News

Jan 17, 2019
9:45PM

RBI-industry meet: India Inc pitches for rate cut to prop up growth

FILE PIC: PTI


A delegation of industry chambers, led by CII’s president-designate Uday Kotak, today urged the Reserve Bank of India to cut interest rate and reserve ratio to prop up growth.

In a meeting with RBI Governor Shaktikanta Das in Mumbai on Thursday, Confederation of Indian Industry - CII suggested a cut cash reserve ratio by at least 50 basis points to ease liquidity condition apart from a 50 basis point cut in repo rate to address the issue of high cost of credit. It, however lauded the apex bank for steps taken to ease financing challenges faced by the real sector, especially micro, small and medium enterprises through various measures.

CRR, currently at 4 per cent, is the percentage of deposits kept as reserves with the RBI. Repo rate, currently at 6.5 per cent, is the rate at which the central bank gives loans to the banks.

President of the Federation of Indian Chambers of Commerce and Industry, Sandip Somany too pitched for cut in CRR and repo rate as it would help in reviving the investment cycle and also boost consumption and support growth.

The Associated Chambers of Commerce and Industry of India - ASSOCHAM suggested that the economy needs credit loosening so that liquidity can sustain the growth.

The delegation also recommended that the RBI revisit the lending restrictions on the weak banks under prompt corrective action.

Live Twitter Feed

Listen News

Morning News 13 (Nov) Midday News 13 (Nov) News at Nine 13 (Nov) Hourly 14 (Nov) (0605hrs)
समाचार प्रभात 13 (Nov) दोपहर समाचार 13 (Nov) समाचार संध्या 13 (Nov) प्रति घंटा समाचार 14 (Nov) (0600hrs)
Khabarnama (Mor) 13 (Nov) Khabrein(Day) 13 (Nov) Khabrein(Eve) 13 (Nov)
Aaj Savere 13 (Nov) Parikrama 13 (Nov)

Listen Programs

Market Mantra 13 (Nov) Samayki 13 (Nov) Sports Scan 13 (Nov) Spotlight/News Analysis 13 (Nov) Samachar Darshan 13 (Nov) Radio Newsreel 12 (Nov)
    Public Speak

    Country wide 7 (Nov) Surkhiyon Mein 7 (Nov) Charcha Ka Vishai Ha 13 (Nov) Vaad-Samvaad 29 (Oct) Money Talk 29 (Oct) Current Affairs 8 (Nov)