Zarin Daruwala, CEO, India, Standard Chartered Bank said, “RBI reaffirmed its strong commitment to India’s growth by cutting the repo rate by 25 bps and continuing with its accommodative stance. Cumulative reduction of 135 bps in repo rate delivered so far in 2019, along with the recent cut in corporate tax by the Govt., should help revive growth in the coming months. Additionally, the move to a 24×7 NEFT payment system and allowing domestic banks to offer forex prices to non-residents, are some of the other positive steps.”
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