Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

India Inc looking forward to repo rate cut by RBI in future

PTI
Updated: June 4th, 2021, 16:51 IST
in Business
0
Reserve Bank of India

Photo courtesy: zeenews.com

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: India Inc said Friday it is looking forward to repo rate cut in future as cost of funds has to come down in coming times, but expect continuation of accommodative policy stance by Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at four per cent, but maintained an accommodative stance as the economy faces the brunt of the second Covid-19 wave.

Sanjay Aggarwal, president, PHD Chamber of Commerce and Industry said Friday that the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to continue to mitigate impact of Covid-19 and keep inflation within the target.

Also Read

Air India

All Boeing fuel switch checks complete, no faults found, says Air India

10 hours ago
AH-64E Apaches choppers

Boeing hands over three Apache attack helicopters to Indian Army

10 hours ago

“We look forward to possible repo rate cut in future as cost of funds has to come down in coming times. We expect continuation of accommodative policy stance as depressed demand has to be rejuvenated with enhanced liquidity for businesses and people,” Aggarwal said. He added that due to the current pace of vaccination and demand recovery, the normal growth curve would take time.

Assocham said that the RBI’s decision sends an important message from the central bank to be reaching out to those affected the most by Covid-19 pandemic, through increased and wider windows for soft lendings.

“While keeping the benchmark repo rates unchanged at 4 per cent was on the expected lines, extension of Rs 15,000 crore special liquidity window for contact-intensive sectors would help job-oriented sectors, particularly amongst micro, small and medium enterprises (MSMEs),” Assocham said.

It added that another window of Rs 16,000 crore for MSMEs through SIDBI would enable financial institutions to reach out to the smaller business entities in this hour of difficulty.

“The RBI’s macro projections of 9.5 per cent growth and retail inflation of 5.1 per cent for FY22 are in line with the current situation marked by calibrated opening of the economy, to be helped by increasing penetration of vaccination and the ensuing uptick in the rural demand,” Assocham stated.

CII said that while keeping the policy rates unchanged, RBI’s move to continue to use its unconventional tools to keep yields stable amid a large government borrowing program provides succour to keep the borrowing costs contained for the private sector.

“Measures such as provision of on-tap liquidity window worth Rs 15,000 crore for contact – intensive sectors, special liquidity facility to SIDBI for on-lending and refinancing and expanding coverage of borrowers under Resolution Framework 2.0 are all expected to provide relief to the beleaguered sectors,” the chamber added.

 

Tags: ASSOCHAMCIIcommerceGrowthindustryMSMERBIRepo rate
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

slide 2 to 4 of 30
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019

Archives

Select Month

    Editorial

    Voting At 16

    Ballot Box
    July 22, 2025

    It has long been held that when one is young, one tends to subscribe to pro-poor and people-oriented progressive politics,...

    Read more

    Water Bomb

    OPiate
    July 21, 2025

    On 19 July, China began constructing a $167.8 billion dam on the Brahmaputra River in Tibet, close to the Indian...

    Read more

    Wild Swing

    July 20, 2025

    The BJP is seen today as a corporate-friendly political party, and this is the view held by both the party’s...

    Read more

    Indefinite Tenure

    Power of Continuity
    July 19, 2025

    There was a time when “superannuation” meant something. Now it’s just the date you pencil in until the next extension...

    Read more
    • Home
    • State
    • Metro
    • National
    • International
    • Business
    • Editorial
    • Opinion
    • Sports
    • About Us
    • Advertise
    • Contact Us
    • Jobs
    Developed By Ratna Technology

    © 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST

      • News in Odia
      • Orissa POST Epaper
      • Video
      • Home
      • Trending
      • Metro
      • State
      • Odisha Special
      • National
      • International
      • Sports
      • Business
      • Editorial
      • Entertainment
      • Horoscope
      • Careers
      • Feature
      • Today’s Pic
      • Opinion
      • Sci-Tech
      • About Us
      • Contact Us
      • Jobs

      © 2024 All rights Reserved by OrissaPOST