Reaction Quote on RBI MPC by Shri. Binod Kumar, MD & CEO, Indian Bank
Below the Reaction Quote on RBI MPC by Shri. Binod Kumar, MD & CEO, Indian Bank
"The RBI’s decision to cut the repo rate by 50 basis points to 5.50% while changing its stance to neutral will boost credit demand in sectors like Retail, Agriculture and MSME. It will also encourage private capex. CRR cut will provide liquidity at the hands of banks. RBI is taking very proactive steps keeping in view looming headwinds on credit growth. Lower rates will spur the retail demand especially for affordable housing. Good monsoon coupled with lower rates augurs well for agriculture sector. It will drive consumption and will boost rural demand. MSMEs, which are vital to India’s economy, will see improved cash flow and more room to grow. We will ensure to pass on rate transmission immediately to support entrepreneurs and keep the economy moving forward."
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