"Given that growth in the economy is at a low point, business confidence is weak and the investment cycle has come to a grinding halt, we expect the new RBI governor to initiate measures that would enthuse the market participants, boost investor sentiment and bring confidence back in the economy," industry body Ficci's Sr Vice President Sidharth Birla said.
According to the media reports, Birla said the Reserve Bank should take steps to remove "apprehensions" which continue to grip members of Indian Industry despite consistent efforts by both the central bank and the government.
Assocham President Rana Kapoor said: "We expect some out- of-the-box solutions to ensure adequate credit at low rates so that India can revert to the growth trajectory".
RBI, he said, needs to cut rates to boost investor confidence notwithstanding several constraints such as rising inflation and volatile rupee, PTI reported.
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