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Andhra Pradesh
FAPCCI welcomes monetary policy
Special Correspondent
HYDERABAD:
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has welcomed the Annual Monetary policy statement by the Reserve Bank of India (RBI) Governor, stating that it will provide stability to the domestic economy as also contain inflation at manageable levels.
O. P. Goenka, president of FAPCCI said in a press release here on Thursday that the statement does not indicate any major change in the on going policies of the central bank. There was no change in Cash Reserve Ratio. It does not envisage any change in the bank lending rate, and this would provide some stability to the entire interest rate structure.
The entire policy statement was only continuation of the mid-term review announced by the RBI Governor in October last.
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