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The Prime Minister's Economic Advisory Council (PMEAC) Chairman C. Rangarajan has hailed the RBI’s latest monetary policy announcements, stating that the actions of the central bank are “appropriate and well-balanced’’.
“The message that the RBI has sent out is inflation remains at high level and that it is clearly focused on controlling it,’’ Rangarajan told Business Line here.
The RBI has taken a cautious approach even while reducing the cash reserve ratio by a small 25 basis points. The CRR cut will increase liquidity in the banking system.
The CRR cut is a clear recognition of the recent Government steps to ease demand pressure in the economy, he noted.
srivats.kr@thehindu.co.in
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