CG: Chamber welcomes RBI’s monetary policy, Repo Rate Cut

RAIPUR,INDIA: The Chhattisgarh Chamber of Commerce and Industries has expressed its support for the latest monetary policy announced by the Reserve Bank of India, which includes a 0.25% reduction in the repo rate, bringing it down to 6.25%.

State President Amar Parvani, General Secretary Ajay Bhasin, Treasurer Uttamchand Golchha, and Executive Presidents Rajendra Jaggi, Vikram Singhdev, Ram Mandhan, and Manmohan Agrawal emphasized that the policy shift would benefit businesses and the general public alike.

Amar Parvani stated that this is the first time in five years that the RBI’s Monetary Policy Committee has reduced the repo rate. The decrease in interest rates is expected to lower EMIs on home, vehicle, and business loans, providing financial relief to borrowers. With more disposable income, consumer spending is likely to rise, bringing increased liquidity into the market. Additionally, the move is anticipated to boost sectors such as real estate, construction, cement, and steel, thereby stimulating overall economic growth.

The reduction in borrowing costs is expected to make loans more accessible, allowing businesses to expand and entrepreneurs to secure funding for new ventures. Lower interest rates will encourage investment, drive job creation, and contribute to economic development. The policy change is also likely to increase savings, as individuals and businesses will spend less on loan repayments, leading to greater financial stability.

The Chamber leaders expressed confidence that the repo rate cut would foster economic growth by supporting industries and strengthening market confidence. They urged businesses and consumers to take advantage of the reduced interest rates and contribute to the state’s economic progress.