New Delhi: The country's leading industry chambers today gave a mixed reaction on RBI's credit policy, with Assocham welcoming the review but FICCI expressing concern over the hike in the repo rate.
"The fact that RBI has chosen to maintain stable lending rates, including home loans, and maintaining growth momentum is a good sign for keeping the vibrancy in the economy," Assocham President Anil K Aggarwal said in a statement.
However, FICCI expressed concern over the hike in the repo rate by 25 basis points, saying the move will adversely hit small and medium companies.
"The hike in repo rate by 25 basis points will raise the cost of capital for industry and adversely affect the growth process," FICCI President Saroj K Poddar said.
Poddar welcomed the RBI's step to contain inflation, but said care would have to be exercised to ensure that the policy instruments do not impact the interest rate scenario.
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