BANKERS' VIEW - Bankers react to policy, rate cuts
MUMBAI (Reuters) - The Reserve Bank of India lowered its key short-term rates by 25 basis points each and forecast economic growth of 6 percent for the year that began on April 1.
The bank cut its reverse repo rate to 3.25 percent and the repo rate to 4.75 percent, effective immediately.
Following are reactions from bankers to the rate cut and policy comments:
LATEST:
M.S. SUNDARA RAJAN, CMD, INDIAN BANK:
"It's a signal to cut rates and go for softer interest rates. All the banks will address correspondingly."
A.C. MAHAJAN, CMD, CANARA BANK: Continued...
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