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"Monetary policy action, by itself, cannot revive growth. It needs to be supplemented by efforts towards easing the supply bottlenecks, improving governance and stepping up public investment.Overall, the balance of risks stemming from the Reserve Bank's assessment of the growth-inflation dynamics yields little space for further policy easing."
D. Subbarao RBI Governor
"How much scope is there? I would say 1 bps is much too high, there is no scope to cut lending rates. Effective demand in whatever you relatively see is not very much in the corporate side but the consumer demand particularly home and car continues to be strong and till such time we have enough deployment there I do not think there would be great compulsion on us to cut lending rates."
Pratip Chaudhuri Chairman, SBI
"The decision of RBI to cut the policy rates by 25 basis points sends a strong signal that the RBI is refocusing its priority in favour of growth. However, the given economic conditions required a bolder intervention from the RBI. In such a scenario, aggressive monetary easing affected by a 50 bps cut in repo rate would have provided the necessary stimulus, along with a 50 bps reduction in CRR."
S Gopalakrishnan CII President | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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RBI Cuts Repo By 25 Bps, CRR Unchanged At 4%; Sensex Falls 160 Pts On RBI`s "Hawkish" Policy Stance
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