The Reserve Bank of India left interest rates on hold on Tuesday but cut the cash reserve ratio for banks by 50 basis points, a move that eases tight liquidity in the banking system and underscores a policy shift from fighting inflation to reviving growth.
Following are views of industry officials after the RBI statement:
N Shridhar, Group Director, DB Realty
"The cuts would bring down interest rates, and as interest rates would get slightlty moderated I would assume that corporates would kick-start their capex plans. This is a step in the right direction, hopefully to stimulate growth. There was a lot of pressure on corporate earnings, given that money was tight and interest rates moving up."
(DB Realty is a real estate developer)
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