Comments
"The 35 bps cut in the policy rates is a step in the right direction,” said Mrutyunjay Mahapatra, MD & CEO Syndicate Bank.
This combined with positive push to NBFC lending, consumer lending and the reduction in risk weight is expected to push the economy into a growth trajectory, he added.
The RBI had worked in the same way as major Central banks in developed and emerging market economies have dealt with policy rates. Going forward, this impact will be watched closely.
“As the banks start transmitting the rate cut, the target sector growth will determine the extent of further policy interventions in money and currency market," he explained.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.