ASSOCHAM president welcomed several other initiatives by the RBI
"With crude oil prices having come down significantly and showing further prospects of reduction and commodity prices in the global market seeing downward trend, the Reserve Bank would not have taken any inflationary risks if policy interest rates were eased a bit signalling accommodation for boosting growth", ASSOCHAM president Rana Kapoor said today."Governor Raghuram Rajan himself has taken note of the risks to inflation abating and stated that the monetary policy stance would be data driven," said Rana Kapoor.
"In that case, the data on macro front as regards inflation , is quite positive at this point of time," said the ASSOCHAM chief, who is also a noted banker as Chairman and Managing Director of Yes Bank.
"In fact, the macro picture at this point of time is ripe for policy accommodation for growth," he added.
However, the ASSOCHAM president welcomed several other initiatives by the RBI to facilitate Prime Minister's Jan Dhan Yojna by easing the KYC norms and coming out with several other initiatives at the regulatory front to ensure orderly functioning of the financial markets.
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