India Inc disappointed

Industry chambers expressed disappointment over the RBI’s monetary policy for not announcing more rate cuts, reports HT Correspondent.

Industry chambers on Tuesday expressed disappointment over the RBI’s monetary policy for not announcing more rate cuts.

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The Assocham said it was expecting at least 100 basis points cut in rates. The Confederation of Indian Industry (CII) called the conditions “ideal for rate cuts”. CII said unless fresh measures are taken to boost domestic market, employment scenario could be adversely impacted.

Industry chamber FICCI welcomed the extension of the liquidity support to mutual funds and housing finance companies from March 30 to September 30, as this would enable lending agencies to plan their activities with greater market certainty.

Unlike industry chambers, RPG Enterprises Chairman Harsh Goenka called RBI’s stance as “wait-and-watch”.