ICICI Bank welcomes RBI's decision to keep repo rates unchanged
New Delhi [India], Apr. 6 (ANI): Hailing the Reserve Bank of India's (RBI) decision to keep the repo rates unchanged on Thursday, ICICI Bank MD and CEO Chanda Kochhar said the central bank is very clear in articulating on liquidity management.
ANI
Apr 06, 2017 23:23 IST
New Delhi [India], Apr. 6 (ANI): Hailing the Reserve Bank of India's (RBI) decision to keep the repo rates unchanged on Thursday, ICICI Bank MD and CEO Chanda Kochhar said the central bank is very clear in articulating on liquidity management. "We welcome the decision and would ensure stability in markets by enforcing the sanctity of the operating rate while addressing temporary liquidity imbalances," said Kochhar. Adding to this, she said that the money market rates would be anchored in a tighter band through the narrowing of the (LAF) corridor. "RBI's continued focus on inflation targeting will reinforce confidence in the Indian economy and continue to support capital inflows," added Kochhar. The MD and CEO of ICICI Bank further said the focus on resolution of stressed assets will help in renewing confidence and boosting investment and aggregate demand going forward. Along with these, the policy also articulates other important developmental policies such as expanding the investor base in Real Estate Investment Trusts (REITs) which would help to expand and deepen domestic financial markets. The RBI earlier today kept its repo rate unchanged at 6.25 percent, but made changes in the reverse repo rate at 6 percent after all six members of the Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel voted in favour of the decision. (ANI)
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