RBI must cut interest rate by at least 25 basis points: Assocham

It made a strong case citing five-year low inflation and deceleration in the factory output

Ahead of the Reserve Bank of India's (RBI) forthcoming monetary policy review next week, industry chamber Assocham (Associated Chambers of Commerce and Industry of India) has on Sunday urged the apex bank to cut interest rates in view of latest data that shows inflation at a five-year low and deceleration in the factory output.

"Citing inflation at a five-year low and deceleration in the factory output, the Assocham has written to RBI Governor Urjit Patel, making out a strong case for at least 25 basis point cut in the policy interest rate when the RBI Monetary Policy Committee (MPC) meets on