Comments of Ms Chanda Kochhar, MD and CEO, ICICI Bank on RBI credit policy

The 50 bps reduction in the policy rate by RBI is a precursor to reduction in interest rates in the economy which will provide a strong impetus to growth. The progressive liberalisation of financial markets is a very welcome step. The policy statement not only demonstrates consistency in RBI’s approach but also explicitly recognises the steps taken by the government in controlling inflation. It is a strong and forward-looking statement that recognises India's inherent strengths and complements the government's measures to take the country to a sustainable high growth trajectory.