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Asia central banks stun markets with series of rate cuts amid slow growth

Banks must transmit RBI rate cut to hike consumption, investment: India Inc The Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesday cut the interest

rate by 35 basis points -- the fourth successive reduction -- to a nine-year-low level

Press Trust of India | New Delhi Last Updated at August 7, 2019 19:33 IST

ALSO READ

Too little, too late: Why experts not happy with RBI's rate cut gift to PM? RBI likely to cut repo rate by 25 bps in April policy: Goldman Sachs report Repo rate at lowest level in 9 years. Key takeaways from RBI's policy meet Economists call for at least 25 bps rate cut by RBI in April policy meet RBI cuts repo rate by 25 bps to 5.75%, changes stance to accommodative

With the RBI slashing the repo rate by 35 basis points, India Inc on Wednesday said its

swift and full transmission by banks in the form of lower lending rates will be crucial to lift

consumption and investment in the economy.

The Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesday cut the

interest rate by 35 basis points -- the fourth successive reduction -- to a nine-year-low

level, in an attempt to boost an economy growing at its slowest pace in nearly five years.

The central bank reduced its growth projection for the Indian economy to 6.9 per cent for

the current financial year, from 7 per cent forecast in June, due to a slowdown in

demand and investments.

"With today's (Wednesday's) cut, the RBI has lowered the policy rate (repo) by 110 basis

points in the current calendar year. The central bank has also kept liquidity in the surplus

mode, and it is now critical for banks to move fast and transmit this ease in policy rate in

the form of lower lending rates.

"Unless the transmission is swift and full, we may not see a change in the consumption

and investment trajectory," Ficci President Sandip Somany said.

PHD Chamber of Commerce and Industry President Rajeev Talwar said the repo

rate cut will help rejuvenate consumption and increase competitiveness of the producers

with reduced cost of capital.

"However, at this juncture, transmission of the cut in repo rate with an effective

reduction in lending rates by the banking sector would be crucial to materialise the

benefits at the ground level," said Talwar.

"Going ahead, we expect repo rate to come down to 5 per cent in the coming quarters

for enhanced liquidity and availability of credit to the industry especially to the MSMEs

(micro, small and medium enterprises) with a significant reduction in the cost of capital,"

he added.

The repo rate is the rate at which the RBI lends to banks.

According to the Indian Chamber of Commerce, reduction in the repo rate will transmit to

cheaper loans which will boost the economy at large, especially sectors such as real

estate and automobiles, and spur the latent consumer demand in these segments.

Higher disposable income in the hands of consumer will also fuel the growth in domestic

demand going forward.

"In a scenario where there is pressure on GDP (gross domestic product) growth, the

move will spur investment and boost consumption activity in the economy.

We believe that this announcement might result in a further reduction in home loan rates

and will provide an impetus to the government's initiative of affordable housing,"

Anshuman Magazine, chairman and chief executive officer (India, South East Asia,

Middle East & Africa), CBRE, said.

Exporter's body EEPC India Chairman Ravi Sehgal said the central bank should also

ensure easy credit disbursal to the exporters, especially in the MSME sector and

transmission by the banks of the earlier reductions in the lending rates.

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Home >  (/)Business >  (/business)Banks must transmit RBI

repo rate cut: India Inc

Banks must transmitRBI repo rate cut: IndiaInc

New Delhi: With the RBI slashing the repo rate by 35basis points, India Inc on Wednesday said its swift andfull transmission by banks in the form of lower lendingrates will be crucial to lift consumption and investmentin the economy. The central bank reduced its growthprojection for the Indian economy to 6.9 per cent for thecurrent financial year, from 7 per cent forecast in June,due to a slowdown in demand and investments.

"With Wednesday's cut, the RBI has lowered the policyrate (repo) by 110 basis points in the current calendaryear. The central bank has also kept liquidity in thesurplus mode, and it is now critical for banks to movefast and transmit this ease in policy rate in the form oflower lending rates.

Also Read - Rupee rebounds 18 paise to 70.71against USD in early trade (/business/rupee-rebounds-18-paise-to-7071-against-usd-in-early-trade-367875)

Team MP (/) 7 Aug 2019 10:24 PM

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SHARE%26UTM_PARTNER%3DMPOST%26UTM_CAMPAIGN%3DSHARE%26UTM_M

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(HTTPS://PLUS.GOOGLE.COM/SHARE?

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"Unless the transmission is swift and full, we may notsee a change in the consumption and investmenttrajectory," Ficci President Sandip Somany said.

PHD Chamber of Commerce and Industry PresidentRajeev Talwar said the repo rate cut will help rejuvenateconsumption and increase competitiveness of theproducers with reduced cost of capital.

"However, at this juncture, transmission of the cut inrepo rate with an effective reduction in lending rates bythe banking sector would be crucial to materialise thebenefits at the ground level," said Talwar.

Also Read - Banks have passed on only 29 of RBI's75 bps cuts: Guv Das (/business/banks-have-passed-on-only-29-of-rbis-75-bps-cuts-guv-das-367770)

"Going ahead, we expect repo rate to come down to 5per cent in the coming quarters for enhanced liquidityand availability of credit to the industry especially to theMSMEs (micro, small and medium enterprises) with asignificant reduction in the cost of capital," he added.The repo rate is the rate at which the RBI lends to banks.

According to the Indian Chamber of Commerce,reduction in the repo rate will transmit to cheaper loanswhich will boost the economy at large, especiallysectors such as real estate and automobiles, and spurthe latent consumer demand in these segments. Higherdisposable income in the hands of consumer will alsofuel the growth in domestic demand going forward.

In a scenario where there is pressure on GDP (grossdomestic product) growth, the move will spurinvestment and boost consumption activity in theeconomy.

Last Updated : Aug 07, 2019 05:23 PM IST | Source: PTI

Banks must transmit repo rate

cut by RBI to boost

consumption, investment:

India Inc The repo rate is the rate at which the RBI lends to banks. PTI@moneycontrolcom

With the RBI slashing the repo rate by 35 basis points, India Inc on August 7 said

its swift and full transmission by banks in the form of lower lending rates will be

crucial to lift consumption and investment in the economy.

The Reserve Bank of India's (RBI) Monetary Policy Committee on August 7 cut

the interest rate by 35 basis points -- the fourth successive reduction -- to a nine-

year-low level, in an attempt to boost an economy growing at its slowest pace in

nearly five years.

The central bank reduced its growth projection for the Indian economy to 6.9

percent for the current financial year, from 7 percent forecast in June, due to a

slowdown in demand and investments.

"With today's (Wednesday's) cut, the RBI has lowered the policy rate (repo) by 110

basis points in the current calendar year. The central bank has also kept liquidity in

the surplus mode, and it is now critical for banks to move fast and transmit this

ease in policy rate in the form of lower lending rates.

"Unless the transmission is swift and full, we may not see a change in the

consumption and investment trajectory," Ficci President Sandip Somany said.

PHD Chamber of Commerce and Industry President Rajeev Talwar said the repo

rate cut will help rejuvenate consumption and increase competitiveness of the

producers with reduced cost of capital.

"However, at this juncture, transmission of the cut in repo rate with an effective

reduction in lending rates by the banking sector would be crucial to materialise the

benefits at the ground level," said Talwar.

"Going ahead, we expect repo rate to come down to 5 percent in the coming

quarters for enhanced liquidity and availability of credit to the industry especially

to the MSMEs (micro, small and medium enterprises) with a significant reduction

in the cost of capital," he added.

The repo rate is the rate at which the RBI lends to banks.

According to the Indian Chamber of Commerce, reduction in the repo rate will

transmit to cheaper loans which will boost the economy at large, especially sectors

such as real estate and automobiles, and spur the latent consumer demand in these

segments.

Higher disposable income in the hands of consumer will also fuel the growth in

domestic demand going forward.

"In a scenario where there is pressure on GDP (gross domestic product) growth,

the move will spur investment and boost consumption activity in the economy.

We believe that this announcement might result in a further reduction in home loan

rates and will provide an impetus to the government's initiative of affordable

housing," Anshuman Magazine, chairman and chief executive officer (India, South

East Asia, Middle East & Africa), CBRE, said.

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"In a scenario where there is pressure on GDP (gross

domestic product) growth, the move will spur investment

and boost consumption activity in the economy.

Banks must transmit repo rate cut byboost consumption, investment: IndiaThe Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesinterest rate by 35 basis points -- the fourth successive reduction -- to a ninlevel.

New Delhi: With the RBI slasrate by 35 basis points, India Wednesday said its swift andtransmission by banks in the lending rates will be crucial toconsumption and investment The Reserve Bank of India's Policy Committee on Wednesinterest rate by 35 basis poinsuccessive reduction -- to a nlevel, in an attempt to boost agrowing at its slowest pace inyears.

Th t l b k d d it th j ti f th I di t 6

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The central bank reduced its growth projection for the Indian economy to 6the current financial year, from 7 per cent forecast in June, due to a slowdoand investments. "With today's (Wednesday's) cut, the RBI has lowered the policy rate (repopoints in the current calendar year. The central bank has also kept liquidity mode, and it is now critical for banks to move fast and transmit this ease inthe form of lower lending rates. "Unless the transmission is swift and full, we may not see a change in the cand investment trajectory," Ficci President Sandip Somany said. PHD Chamber of Commerce and Industry President Rajeev Talwar said thewill help rejuvenate consumption and increase competitiveness of the prodreduced cost of capital.

"However, at this juncture, transmission of the cut in repo rate with an effeclending rates by the banking sector would be crucial to materialise the beneground level," said Talwar. "Going ahead, we expect repo rate to come down to 5 per cent in the comienhanced liquidity and availability of credit to the industry especially to the small and medium enterprises) with a significant reduction in the cost of ca

CBRE Group Gross Domestic Product New Delhi Ravi S

Monetary Policy Committee

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The repo rate is the rate at which the RBI lends to banks. According to the Indian Chamber of Commerce, reduction in the repo rate wcheaper loans which will boost the economy at large, especially sectors suestate and automobiles, and spur the latent consumer demand in these segdisposable income in the hands of consumer will also fuel the growth in domgoing forward. "In a scenario where there is pressure on GDP (gross domestic product) grwill spur investment and boost consumption activity in the economy. We believe that this announcement might result in a further reduction in hoand will provide an impetus to the government's initiative of affordable housAnshuman Magazine, chairman and chief executive officer (India, South EaEast & Africa), CBRE, said. Exporter's body EEPC India Chairman Ravi Sehgal said the central bank sensure easy credit disbursal to the exporters, especially in the MSME sectotransmission by the banks of the earlier reductions in the lending rates.

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Read more on

The Financial Express

Banks must transmit repo rate cut

by RBI to boost consumption,

investment: India Inc By: PTI |

Published: August 7, 2019 5:37:10 PM

The central bank reduced its growth projection for the Indian economy to 6.9 per

cent for the current financial year, from 7 per cent forecast in June, due to a

slowdown in demand and investments.

The Reserve Bank of India’s (RBI) Monetary Policy Committee on Wednesday cut the interest rate by 35 basis points — the fourth successive reduction — to a nine-year-low level, in an attempt to boost an economy growing at its slowest pace in nearly five years.

With the RBI slashing the repo rate by 35 basis points, India Inc on Wednesday said

its swift and full transmission by banks in the form of lower lending rates will be

crucial to lift consumption and investment in the economy. The Reserve Bank of

India’s (RBI) Monetary Policy Committee on Wednesday cut the interest rate by 35

basis points — the fourth successive reduction — to a nine-year-low level, in an

attempt to boost an economy growing at its slowest pace in nearly five years.

The central bank reduced its growth projection for the Indian economy to 6.9 per

cent for the current financial year, from 7 per cent forecast in June, due to a

slowdown in demand and investments. “With today’s (Wednesday’s) cut, the RBI has

lowered the policy rate (repo) by 110 basis points in the current calendar year. The

central bank has also kept liquidity in the surplus mode, and it is now critical for

banks to move fast and transmit this ease in policy rate in the form of lower lending

rates. “Unless the transmission is swift and full, we may not see a change in the

consumption and investment trajectory,” Ficci President Sandip Somany said.

PHD Chamber of Commerce and Industry President Rajeev Talwar said the repo

rate cut will help rejuvenate consumption and increase competitiveness of the

producers with reduced cost of capital. “However, at this juncture, transmission of

the cut in repo rate with an effective reduction in lending rates by the banking sector

would be crucial to materialise the benefits at the ground level,” said Talwar.

“Going ahead, we expect repo rate to come down to 5 per cent in the coming

quarters for enhanced liquidity and availability of credit to the industry especially to

the MSMEs (micro, small and medium enterprises) with a significant reduction in the

cost of capital,” he added.

The repo rate is the rate at which the RBI lends to banks. According to the Indian

Chamber of Commerce, reduction in the repo rate will transmit to cheaper loans

which will boost the economy at large, especially sectors such as real estate and

automobiles, and spur the latent consumer demand in these segments. Higher

disposable income in the hands of consumer will also fuel the growth in domestic

demand going forward.

“In a scenario where there is pressure on GDP (gross domestic product) growth, the

move will spur investment and boost consumption activity in the economy. We

believe that this announcement might result in a further reduction in home loan rates

and will provide an impetus to the government’s initiative of affordable housing,”

Anshuman Magazine, chairman and chief executive officer (India, South East Asia,

Middle East & Africa), CBRE, said.

Exporter’s body EEPC India Chairman Ravi Sehgal said the central bank should also

ensure easy credit disbursal to the exporters, especially in the MSME sector and

transmission by the banks of the earlier reductions in the lending rates.

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New Delhi, Aug 7 () With the RBI slashing the repo rate by 35 basis points, IndiaInc on Wednesday said its swift and full transmission by banks in the form of lowerlending rates will be crucial to lift consumption and investment in the economy.The Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesday cutthe interest rate by 35 basis points -- the fourth successive reduction -- to a nine-year-low level, in an attempt to boost an economy growing at its slowest pace innearly five years.The central bank reduced its growth projection for the Indian economy to 6.9 percent for the current financial year, from 7 per cent forecast in June, due to aslowdown in demand and investments."With today's (Wednesday's) cut, the RBI has lowered the policy rate (repo) by 110basis points in the current calendar year. The central bank has also kept liquidity inthe surplus mode, and it is now critical for banks to move fast and transmit thisease in policy rate in the form of lower lending rates."Unless the transmission is swift and full, we may not see a change in theconsumption and investment trajectory," Ficci President Sandip Somany said.PHD Chamber of Commerce and Industry President Rajeev Talwar said the reporate cut will help rejuvenate consumption and increase competitiveness of theproducers with reduced cost of capital."However, at this juncture, transmission of the cut in repo rate with an effectivereduction in lending rates by the banking sector would be crucial to materialise thebenefits at the ground level," said Talwar."Going ahead, we expect repo rate to come down to 5 per cent in the comingquarters for enhanced liquidity and availability of credit to the industry especiallyto the MSMEs (micro, small and medium enterprises) with a significant reductionin the cost of capital," he added.The repo rate is the rate at which the RBI lends to banks.According to the Indian Chamber of Commerce, reduction in the repo rate willtransmit to cheaper loans which will boost the economy at large, especially sectorssuch as real estate and automobiles, and spur the latent consumer demand in these