New Delhi, Feb. 7 -- Congress leader Rajeev Shukla on Friday welcomed RBI's decision to reduce repo rate by 25 basis points (bps) to 6.25 per cent and said that it will help trade and industry as loans will get cheaper.

"I believe that more the loans become cheaper it is better for industry or trade because they have trouble repaying loans. They get caught in a vicious cycle of debt and their business gets into trouble. RBI should take positive steps. If it is taking steps it is a good sign and loans should become cheaper. If a businessman gets caught in a debt trap, they should help him, and not hand over his company to someone else," Shukla told ANI.

In his first Monetary Policy announcement on Friday, Reserve Bank of India (RBI) Gove...