RBI cuts rates by 25 bps: India Inc hails central bank decision, says it will induce liquidity in economy
FirstpostThe Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday, while also changing its monetary policy stance to “accommodative” after the economy grew at its slowest pace in over four years in the January-March quarter. Jayant Mehrotra, Chief Financial Officer, Lodha Group RBI’s decision on rate cut by 25 bps, which is also for the third time in a row is a welcome move and home buyers should expect cheaper loans from banks. Amid slowing economic growth and rising global uncertainty, this is a welcome move in our business” MadhuSudhan Bhageria, Chairman and Managing Director, Filatex India RBI rate cut comes at a time when India’s Q4FY19 GDP growth rate reduced to 5.8 percent, a five year low under the Modi government. Ananth Narayan, Associate Professor, Finance at SPJIMR Given slowing domestic and global growth, the Monetary Policy Committee unanimously delivered a 0.25 percent rate cut with an accommodative stance. R K Gurumurthy-Head Treasury, Lakshmi Vilas Bank The RBI cut repo rate for the third time in a row, along with a change in stance to being “accommodative” from “neutral’.