Commenting on the third bi-monthly monetary policy statement released today,Dr. Jyotsna Suri, President, FICCI said “The decision of Central Bank to keep the policy rate unchanged is disappointing for the industry. Given that the industrial growth still remains volatile and demand conditions have not seen much improvement, there is a need to give policy stimuli to encourage demand and investments.” “With a pickup in the monsoons, inflation is expected to remain range bound and within Reserve Bank of India’s indicative trajectory. Additionally, the latest capital support provided by the Government to the Public Sector Banks should enable effective transmission into lower lending rates. Hence, we do hope that the Central Bank will consider an accommodative policy stance much ahead of the next scheduled bi-monthly monetary policy”, added Dr. Suri.
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