ASSOCHAM
ECONOMY ASSOCHAM seeks at least 100 BSP cut in interest rates; no baby step by RBI will do ASSOCHAM today made a strong demand for a big rate cut, stating 25 basis point reduction in REPO rate by the Reserve Bank of India (RBI) will only be a baby step which is quite inadequate to revive the growth momentum in the economy. "It is time, the Reserve Bank of India went in for a bold move and slashed the REPO rate by at least 100 basis points. Only then, the prolonged high interest rate cycle will be broken and the growth would get some breathing space for revival. The 25 bps cut will only be a symbolic and would not make much of a difference excepting, maybe a short-lived rally in the stock market”, ASSOCHAM President Rajkumar N Dhoot said on the eve of the RBI coming out with a credit policy review tomorrow. Mr. Dhoot said the tight money policy pursued by the RBI has on...