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Reserve Bank of India cuts interest rate by 0.25 per cent: Twitterati gives mixed reaction to repo rate being sliced by RBI
Reserve Bank Of India (RBI) Governor Raghuram Rajan lowered interest rates by 0.25 per cent, this being third time this year
Reserve Bank Of India (RBI) Governor Raghuram Rajan lowered interest rates by 0.25 per cent, this being third time this year. Reacting to the market and Narendra Modi-led government’s expectations of boosting growth by lowering borrowing cost. At one hand where the repo rate was reduced to 7.25 from 7.50 rate, on the other hand Statutory Liquidity Ratio (SLR) and cash reserve requirement were untouched at 21.5 per cent and 4 per cent respectively.
The Internet Society seemed happy with the Central Bank lowering the repo rates, as #RBIPolicy was the top trend on both Twitter and Facebook. After announcing the rate cut, RBI Governor Raghuram Rajan said, “With low domestic capacity utilisation, still mixed indicators of recovery, and subdued investment and credit growth, there is a case for a cut in the policy rate today”. There were 0.25 per cent rate cuts in January and March earlier this year.
We take a look at how the Social Media reacted to the decision of lowering repo rates by Reserve Bank of India (RBI) Governor Raghuram Rajan for the third time this year.
1. A reality check.
Also, #RBIpolicy had a reality check for everyone over the moon over GDP numbers, economy isn’t out f the woods yet! No wonder Index dived
— Jatin Panchhi (@JatinJP) June 2, 2015
2. Much needed stimulus to the economy.
#RBIpolicy A cut in repo rate will provid d much need stimlus 2 d economy, but will banks pass on d benefit f lower rates regime 2 custmrs?
— India Awakens! (@sangene4life) June 2, 2015
3.Banks likely to follow suit.
After 25 bps repo cut Bank Loans likely to cut on interest #RBIpolicy YAY !
— Rahul Miglani (@xs2rahulz) June 2, 2015
4. Cheaper EMIs?
RBI cuts Repo rates further. Cheaper EMIs. But Raghuram Rajan can do more. He is kinda stingy. #RBIpolicy
— Sudha Narayanan (@sudhanarayanan) June 2, 2015
5. Will monsoon have an effect?
RBI cuts repo rate by 25 bps to 7.25% from 7.5%; further easing depends on strength of monsoon, keeps CRR unchanged at 4% #RBIPolicy
— Linda Newmai (@lindanewmai) June 2, 2015
6. What Raghuram Rajan said..
Impression that RBI wants really high rates to look ‘strong & firm’ incorrect, says Raghuram Rajan on #RBIPolicy
— FinSec Advisory Serv (@FinSec_com) June 2, 2015
7. Benefits for banks and not businesses.
Everytime u go for a 25 bps cut, it leaves no room for banks to pass it on, means only banks benefit from the cut not businesses #RBIpolicy
— Gautam Saurav Singh (@gauti12031) June 2, 2015
8. Something for all!
#RBIpolicy #RaghuramRajan -“there are all kinds of ppl in govt, some wants higher level of Re & some lower level of Re”
— Shilpy Sinha (@shilpys8) June 2, 2015
9. Succumbing to pressure?
Don’t see why the RBI had to cut rates if it felt inflation will slightly overshoot. It doesn’t need to react to pressure. #RBIpolicy
— Harsh Shah (@harsh_shah811) June 2, 2015
10. Shobhaa De trolled.
Shobha De: Cut is bad Raghuram Rajan: Wow!!! u know economics !!!! SD: Haircut Babu #RBIpolicy #Re RR: pic.twitter.com/yC34N4sljl
— Ishant Sharma (@CrimeMasterV2) June 2, 2015
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