PHD Chamber welcomes cut in SLR Rates

PHD Chamber welcomes cut in SLR Rates

PHD Chamber welcomes cut in SLR Rates

No.PR-37
June 3, 2014
New Delhi

PHD Chamber welcomes cut in SLR Rates

PHD Chamber welcomes the cut in statutory liquidity ratio (SLR) by 50 basis points from 23% to 22.5% as it will increase liquidity in the system and soften the pressure on interest rates, said Mr. Sharad Jaipuria, President, PHD Chamber in a press statement issued here today.

A reduction in the required SLR will give banks more freedom to expand credit to the non-Government sector, said Mr. Jaipuria.

RBI and Government at centre must create conducive business environment for revival in aggregate demand as well as resumption of growth trajectory, he added
Going ahead, we urge the Government to take effective measures to improve supply side constraints in the economy. Farm sector needed to be focused seriously in the coming times to resolve the structural problem of inflation and to enable economy to attain its potential growth rate trajectory, said Mr. Jaipuria

Going ahead, we expect a calibrated policy stance in the coming times that should consider revival of economic growth trajectory along with containing inflationary scenario, said he said
ENDS
Koteshwar Prasad Dobhal
Consultant (PR)