New Delhi, Feb. 7 -- The industry across sectors has welcomed the decision to cut key rate by 25 bps by the RBI, first in five years, saying the move will provide much needed support to the economy at this juncture and will ease the liquidity crisis to some extent.
Commenting on RBI's Monetary Policy announced earlier on Friday, Mr Harsha Vardhan Agarwal, President, FICCI said, "We welcome RBI's decision to cut the repo rate by 25 basis points, a move that will provide much-needed support to the economy at this juncture".
RBI's decision to ease the policy rate is a timely and forward-looking step and we hope that the banking sector would follow through on this cue and a lowering of lending rates will be seen. Further, while RBI has mainta...