FICCI hails monetary policy announcement
By TIOL News Service
NEW DELHI, FEB 05, 2021: COMMENTING on the monetary policy announcement Mr Uday Shankar, President, FICCI said, “The direction of the policy statement is positive. It is reassuring to note that the RBI continues with its accommodative stance to accelerate economic growth. The recovery signs are getting stronger and the guidance provided by the Central Bank reflects its commitment towards supporting growth.”
“We are encouraged to note the support offered by the Reserve Bank of India through the broad mix of regulatory measures today. The assurance and the clear communication by the Governor with regard to liquidity management and the government borrowing programme infuses optimism. The Central Bank is seen using all available policy tools to keep the liquidity at optimum levels. While CRR rates have been elbowed towards gradual normalization, the MSF relaxation and SLR holdings in HTM category have been extended,” added Mr Shankar.
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