PR No – 24
6th December, 2024
New Delhi
50 bps cut in CRR will enhance liquidity and boost business sentiments: PHDCCI
RBI cuts CRR by 50 bps from 4.5% to 4%, maintains status quo in repo rate, given the global economic landscape of geopolitical developments and financial volatility
We appreciate the calibrated steps undertaken by RBI to cut CRR significantly from 4.5% to 4%. It will not only enhance the liquidity in the economy but also boost business sentiments as it signifies the futuristic softening of interest rates in the country, said Mr Hemant Jain, President, PHDCCI, in a press statement issued here today.
We are hopeful that economy will attain its high growth trajectory once again in the coming quarters, said Mr Jain.
The Monetary Policy Committee (MPC) of the Reserve Bank of India decided to maintain status quo, given the aberrations in growth – inflation trajectory, amidst geopolitical developments and financial volatility.
The MPC decided to keep repo rate unchanged at 6.5% and to continue the alignment of inflation within the target while supporting growth, as India is well-positioned to benefit from the emerging trends.
The forward looking guidance provided by RBI underscores its dedication to maintaining transparency and predictability in monetary policy.
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Warm Regards,
Media Division, PHDCCI