(MENAFN) Reserve Bank of India or (RBI) is on pressure by industry and banks sectors to cut interest rate and enhance growth, reported Times of Oman.
Some Indian experts say the calls to cut interest rate and cash reserve ratio increased in view of declining inflation and the need to arrest fall in industrial production.
They added, however, that the declining value of rupee may constraint the Reserve Bank to take bold measures in its mid-quarter monetary policy review scheduled.
It is worth noting that Industry sector has been complaining that high interest regime is hurting economic activities.
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