The Coimbatore chapter of the Indian Chamber of Commerce and industry, on behalf of the traders industrialists of this region, has welcomed the reduction of Repo Rate by 25 basis points and the retention of cash reserve ratio at 4 percent.
"We feel that the move will give a very good push to cheaper home-and auto-loans." the Indian Chamber of Commerce and industry lident D. Nandakumar said. "Borrowing cost is likely to come down with Reserve Bank of India resuming the process Monetary easing by lowering Repo Rate by 25 basis points, in line with the market expectation, and ensuring easy liquidity for banks."
Nandakumar welcomed Reserve Bank of India's decision to cut interest rates, since this would contribute for sustained ist growth. He also added that the cut in policy rates will also help individual and corporate owers and make other loans cheaper.
"We feel that the move will give a very good push to cheaper home-and auto-loans." the Indian Chamber of Commerce and industry lident D. Nandakumar said. "Borrowing cost is likely to come down with Reserve Bank of India resuming the process Monetary easing by lowering Repo Rate by 25 basis points, in line with the market expectation, and ensuring easy liquidity for banks."
Nandakumar welcomed Reserve Bank of India's decision to cut interest rates, since this would contribute for sustained ist growth. He also added that the cut in policy rates will also help individual and corporate owers and make other loans cheaper.