ASSOCHAM
INDUSTRY/MEMORANDUM ASSOCHAM submits 10 point memorandum to RBI urging to cut key policy rates ahead of Q2 monetary policy review The Associated Chamber of Commerce and Industry of India (ASSOCHAM) has submitted the 10 point memorandum to Dr. D. Subbarao, Governor, RBI to bring down the key lending rates to boost investment and perk up the business sentiment at a pre-consultation meeting for review of monetary policy by the delegation led by Mr Rajkumar Dhoot, president ASSOCHAM in Mumbai today. “In wake of the bold steps initiated by the government from cutting down fuel subsidy, permitting foreign direct investment (FDI) in multi-brand retail to positive response on revisiting the general anti-avoidance rules (GAAR), there is no reason for the RBI to hold back key policy rate cuts any longer as the fiscal consolidation seems to have begun,” said Mr Dhoot, who along with Ms Sudha Ravi, co-chairperson of the chamber’s Banking Council submi...