CII today said RBI's decision to maintain status quo was in line with expectations as there has already been a reduction of 50 base points in the last policy. CII Director General, Chandrajit Banerjee said the focus has now shifted to the transmission of lower policy rates to banks' lending rates. He said banks need to be ready to finance a pick-up in credit growth and RBI should ensure that high level of non-performing assets do not constrain banks from financing higher growth.Mr Banerjee also said the projections made by the RBI on GDP growth and CPI inflation are in line with CII expectations. He, however said, the RBI needs to note that WPI inflation as well as the GDP deflator continues to be negative, indicating deflationary trends in large parts of the economy.