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Banks must pass on rate cuts to revive growth: India Inc

Encouraged by the rate cut, the rate sensitive sectors such as real estate and automobiles are now expecting a bumper festival sales season

BS Reporters  |  Mumbai 

With the Reserve Bank of India painting an optimistic picture for the rest of fiscal 2017 and cutting rates, enthused India Inc leaders said they would press the pedal on new investments as lower interest rates would encourage customers to spend more in the coming months. The CEOs also demanded that with the RBI cutting rates to six-year low, it’s now time for the banks to pass on the benefits to their customers. In its policy, the RBI said though the recent data of index of industrial production (IIP) turned out to be slower than a year ago, the outlook remains bright. ...

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