Assocham urges RBI to moderate interest rates hike

New Delhi, Dec 3 (KNN) Ahead of the call on the next set of monetary policy, Assocham has requested Reserve Bank of India (RBI) to moderate the interest rate hike to protect the nascent economic recovery.

Since May, the central bank has hiked the key policy rate by 190 basis points.

RBI Governor Shaktikanta Das headed six-member rate setting panel is scheduled to meet for three days from Monday to take a call on the next set of monetary policy.

The Central bank is scheduled to announce the decision of the Monetary Policy Committee (MPC) on December 7 (Wednesday).

One of the key recommendations advanced by the chamber to the RBI is to treat retail loans for purchase of Electric Vehicles as priority sector lending, with a concessional rate of interest. (KNN Bureau)