ASSOCHAM hails decision of RBI's Monetary Policy to reverse accommodative cycle and raise interest rates

ASSOCHAM Secretary General Deepak Sood said that the decision of the RBI Monetary Policy Committee to reverse the accommodative cycle and raise interest rates is a remedy to tame inflation. Reacting on the RBI decisions, Mr. Sood said, increase in repo rate and Cash Reserve Ratio is a pointer for hardening of the lending rates by the banks amidst challenging global head winds in the form of high inflation and supply disruptions. He said, the rising credit cost would add to the challenges for the...