Indian industries urge RBI to consider moderating pace of rate hikes

In order to reduce the multi-year high inflation, the RBI has increased the policy repo rate by 190 basis points since May of the ongoing fiscal year

Ahead of the upcoming monetary policy, the Confederation of Indian Industry (CII) has requested the central bank to take into account reducing the pace of rate hikes, reported Livemint. 
 

According to CII, almost 2,000 enterprises experienced a deceleration in their top- and bottom-line performance during the September 2022 quarter on a sequential and yearly basis, highlighting the need to slow down the tightening of monetary policy. 

In order to reduce the multi-year high inflation, the RBI has increased the policy repo rate by 190 basis points since May of this fiscal year.
 

The top line and bottom line have moderated on