Forex swap facility will strengthen market, says Goenka
FICCI has welcomed the Reserve Bank of India’s decision to reduce the repo rate by 25 basis points, seeing it as a calibrated easing that will help stimulate credit offtake, reduce borrowing costs for industry and consumers, and reinforce the current growth momentum.”
“The upward revision, as announced in the policy, of estimated GDP growth for current fiscal to 7.3% from 6.8%, combined with a stable and benign inflation outlook, reflects the continued resilience of the Indian economy and the positive impact of sustained policy and reform measures — including the rationalisation of GST,” FICCI President Anant Goenka said on 5 Dec.
“The additional liquidity measures announced, such as the forex swap facility, will meaningfully strengthen market confidence and support investment flows,” he added.
He further noted, “Today’s (5 Dec) monetary policy sends a clear and reassuring signal — that policy instruments are being actively deployed to safeguard India’s growth trajectory and support economic expansion amid a challenging global environment.” fiinews.com
