ASSOCHAM welcomes rate cut by RBI; seeks loan restructuring
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NEW DELHI, May 22 -- Welcomingthe 40 basis points cut in the policy interest rates and extension of moratorium on loans across the board, the ASSOCHAM today said with the RBI itself projecting a negative GDP growth, one-time debt restructuring on a wider scale is imperative."The RBI has been doing a lot of heavy lifting and making great efforts to infuse liquidity into the economy that has suffered an unprecedented crisis due to Covid 19. But as is clear from a huge reverse flow of liquidity into the RBI system by the banks, cash is reaching where it is needed the most," ASSOCHAM Secretary General Mr Deepak Sood said.
He said, "reduction in interest rates are a great relief, but a new phenomenon is visible. Along with the risk aversion b...
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