Industry bodies welcome Repo rate hold by RBI

ENA Sectors 2023-04-06 15:21:51 New Delhi, Apr 6 (KNN) The Monetary Policy announced by Reserve Bank of India has maintained the Repo rates at 6.5. As industries were fearing an increase in Repo rate and tightening of interest rates, RBIs maintaining the status quo has soothed the frayed nerves. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> Commenting on RBI maintaining the repo rate at 6.5 per cent, A Sakthivel, President, Federation of Indian Export Organisations (FIEO) said that it will further boost growth through increasing investment. While most Central banks have given more weightage to inflation as compared to growth, RBI stroke a nice balance between the two, giving primacy to growth, he said. President FIEO said that the increasing investment will lead to further production and easing of supply thus reducing the inflation in next couple of months. Secretary General of Federation of Indian Micro and Small & Medium Enterprises (FISME) Anil Bhardwaj has welcomed the hold on the repo rates. Further tightening of interest rates would have pared the economic growth especially in sectors dominated by MSMEs, Bhardwaj said. Subhrakant Panda, President, Federation of Indian Chambers of Commerce & Industry (FICCI) said, The pause in policy repo rate by RBI is a welcome move given the evolving macro-economic and financial markets scenario. The renewed phase of turbulence that Central Banks are grappling with globally given developments in the banking sector, geo-politics and slowdown in growth & trade flows warranted a prudent response which RBI has delivered, he said. (KNN Bureau) 32891 https://knnindia.co.in/news/newsdetails/sectors/industry-bodies-welcome-repo-rate-hold-by-rbi 2023-04-06 15:21:51 knnindia.co.in Industry bodies welcome Repo rate hold by RBI