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Our Bureau

New Delhi , Jan. 24

The apex bank's announcement on Tuesday to hike the repo rate to 6.5 per cent and the reverse repo rate to 5.5 per cent and leaving the Bank Rate and the Cash Reserve Ratio (CRR) unchanged is in line with expectation, according to the Federation of Indian Chamber of Commerce and Industry.

The Associated Chambers of Commerce and Industry of India (Assocham) too has welcomed the hike. However, the Chamber feels that reduction in Cash Reserve Ratio by 25 basis points would have further augmented the release of liquidity in the banking and the market.

The PHD Chamber of Commerce and Industry has that the move would help maintain economic growth and contain inflation in the country.

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