Home / Knowledge / News / CII understands & appreciates the Stand of RBI
CII understands & appreciates the Stand of RBI
29
Jan '08
In the context of evolving global uncertainties the Third Quarter Review of the Monetary Policy by the RBI is understandable, said CII in a Press Release issued.

Following the rate cut by the US Federal Reserve and the growing disparity between the rates in the US and India, the Indian Industry had expected that the RBI would respond with a rate cut at this review, said the release.

However, the statement from the RBI has pointed out that the focus needs to be on control of inflation expectations, price stability and orderly conditions in the financial markets, and these would take priority under the current global situations, said CII.

The release said that CII recognizes this policy stand as being “neutral” and a deviation from the “hawkish” stand taken by RBI earlier.

There is an underlying focus on stability, which is conservative, and CII feels that in uncertain times, this is strategically a good stance, as long as the RBI explicitly makes it known that it can take any action pertaining to the key rates if the situation demands.

The release also said that CII has taken note of the terms “conventional” and “unconventional” measures that the RBI can respond with if need arises.

CII has also welcome RBI's move to persuade banks to undertake institutional and procedural changes for enhancing credit delivery to sectors that are employment-intensive.

The export intensive and employment intensive sectors such as garments, leather & leather products and handicrafts have been adversely affected due to appreciation of India Rupee since the last 5 quarters.

Must ReadView All

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X