PR No – 63
7th February, 2025
New Delhi
Reduction in repo rate will accelerate economic growth
We highly appreciate a 25 bps cut in the repo rate as it was much needed to reduce the cost of borrowings to stimulate demand and consumption trajectory, said Mr Hemant Jain, President, PHDCCI
This will lead to increased investment, higher consumer spending, enhanced production and accelerate overall economic growth, said Mr. Jain
The repo rate has been reduced from 6.5% to 6.25%, Standing Deposit Facility rate stands at 6%, Marginal Standing Facility & Bank rate stand at 6.5%.
The increased demand in real estate, manufacturing, and infrastructure will create new employment opportunities in the country, he said
We appreciate the supportive monetary policy environment immediately after the dynamic budget announcements and strategic economic reforms, said Mr. Hemant Jain
*END*
Warm Regards,
Media Division, PHDCCI