Chanda Kochhar, MD and CEO, ICICI Bank on Repo Rate Cut

The Reserve Bank of India (RBI) today (March 4, 2015) cut the benchmark repo rate by 25 basis points (0.25 percent), from 7.75 percent to 7.5 percent. Reacting to it Chanda Kochhar, MD and CEO, ICICI Bank says, “The repo rate cut is a welcome step that demonstrates RBI's comfort with the inflation outlook and its responsiveness to emerging indicators. It also reflects the number of institutional reforms and policy measures outlined in the Union Budget, which lay the foundation for sustainable growth. The rate action today should help move the economy forward on a positive growth path.”