RBI's rate cut to cushion economy amidst global turmoil, says India Inc
RBI's rate cut to cushion economy amidst global turmoil, says India Inc
NEW DELHI: (Apr 9) The Reserve Bank's move to lower its benchmark repo rate for the second time in a row will cushion India's economy against external shocks in the face of reciprocal tariffs imposed by the US that has triggered a global turmoil, industry bodies said on Wednesday.
The RBI on Wednesday slashed the key interest rate by 25 basis points to 6 per cent providing relief to home, auto and corporate loan borrowers.
CII Director General Chandrajit Banerjee termed the decision to continue with the rate easing cycle as timely and prudent.
