New Delhi, May 23 -- The Confederation of Indian Textile Industry (CITI) has hailed the measures announced by RBI Governor Shaktikanta Das on Friday which are aimed at preserving the financial stability in the system and improving the functioning of the market.
These announcements will revive the market, boost exports and imports and debt servicing, said T. Rajkumar, Chairman, CITI.
CITI Chairman thanked the RBI Governor for reducing the repo rate by 40 basis points under the liquidity adjustment facility (LAF) bringing it down to 4.0 per cent from 4.40 per cent with immediate effect. Accordingly, the marginal standing facility (MSF) rate and the Bank Rate stand reduced to 4.25 per cent from 4.65 per cent; and the reverse repo rate under ...