The RBI has kicked off the new financial year with a 25 basis point cut to the repo rate. This was the second successive rate cut, taking the key policy rate to 6 percent, its lowest level in a year.
Here are policy makers and industry leaders on the second successive rate cut by the central bank:
Krishnamurthy Subramanian, chief economic advisor: “In the previous cycle itself RBI had signalled that it was changing its policy stance and this is consistent with the policy stance. I think it will be good for growth.”
Uday Kotak, CEO, Kotak Mahindra Bank: “25 basis point is on expected line, so that is appropriate at the time… in this context of global growth slowing down, 7 percent plus growth is not bad at all.”