Dr Niranjan Hiranandani on the Recent Repo Rate
Dr Niranjan Hiranandani- National President – NAREDCO and Sr VP-Assocham on RBI Policy appended below:
In the backdrop of the weakening economy and falling GDP growth as an outcome of domestic policy disruptions and geo-politics trade war fuming around globally, Dr Niranjan Hiranandani –National President -NAREDCO sounds affirmative.
He said, “India’s Monetary Policy Committee’s continues its ‘Accommodative’ stance for the fifth consecutive time in this year by reducing the repo rate by 0.25 bps which now stands at 5.15%.
The paring of repo rate is a move inclined to revive economic growth, ensuring inflation remains muted and spur up the consumption and investment. He also further pointed out that, “with the short term liquidity squeeze prevailing in the economy, even positive net worth companies across the industries are turning into the negative balance sheet. The current economic scenario makes it the right time for RBI to announce its one-time rollover scheme similar to that was rolled out during the Lehman crisis in 2009 under the global slowdown scenario, which shall act as a remedy to the ailing companies.”
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