The industry bodies have welcomed Reserved bank's decision to keep interest rates unchanged saying it will help increase the over all economic activity in the country.
Director General of Federation of Indian Chambers of Commerce and Industry, FICCI's Arvind Prasad said that in the given economic scenario, RBI has taken right step. He said the the industry expects RBI to take major steps in future to bring down the interest rates that will give support to manufacturing sector and consumer markets.
The chief economist of PHD Chamber of Commerce and Industry S P Sharma endorsed the RBI move to decrease SLR by 0.5 per-cent and said that it will help the banking sector to strengthen the credit flow to the needed sector of the economy.
Dr. Shubhada Rao Senior President and Chief Economist of Yes Bank said that RBI move will help curb the inflation and it will give an opportunity to RBI to cuts rates next year.