Industry groups meet Shaktikanta Das, seek 50-bps cut in repo rate, CRR

Industry bodies want RBI to have a relook at its Feb 12 circular on the restructuring of stressed loans

To get low-cost money in times of tight liquidity and to boost growth, industry bodies in their meeting with RBI Governor Shaktikanta Das sought a 50-basis-point cut in the repo rate and cash reserve ratio.
 
This demand comes ahead of the next policy meet slated next month given that consumer price inflation (CPI) has remained consistently low. The CPI reading for the month of December 2018 was 2.19 per cent. 
 
At present, the repo rate stands at 6.5 per cent and the cash reserve ratio (CRR) at 4 per cent. CRR, which is carved out of banks' deposits,