The Reserve Bank’s policy announcements would go a long way in silencing the hue and cry over decreasing the repo rate and the reverse repo rate in order to make available cheap bank credit. The recent increases in interest rate have been a cause of stress for the business community. But investment is not directly impacted by interest; it is affected by profit. Therefore, the clamour for lowering rates seems overstated, and the RBI, perhaps realising that, has responded appropriately by reducing only the cash reserve ratio (CRR)......
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