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Chamber welcomes RBI decision
COIMBATORE: The Indian Chamber of Commerce and Industry here has welcomed the Reserve Bank of India's decision to maintain the Bank Rate and the repo rate unchanged at 6 per cent and 4.5 per cent respectively. In a release issued here, A. Sakthivel, President of the association, said the economic outlook for 2004-05 presented by the RBI was in line with the industry expectations.
He also expressed that policy measures such as availability of export credit refinance at reverse repo rates would help the industry in a big way. Other policy measures like enhancement of external commercial borrowing limit to $500 million would improve investments in the sector. The steps taken to improve credit delivery to agriculture, small and medium enterprises (SMEs) and infrastructure development would augment industry growth, the release added.
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