<p> <br />“RBI measures is in response to easing liquidity conditions,” said Confederation of Indian Industry. <br /><br />However, Associated Chambers of Commerce and Industry of India said it was early to take such steps as the economic recovery was still fragile.<br /><br />Ficci, on its part, felt that the step may make availability of funds through external commercial borrowing route more expensive. Another industry body PHDCCI hailed the apex bank’s decision.</p>
<p> <br />“RBI measures is in response to easing liquidity conditions,” said Confederation of Indian Industry. <br /><br />However, Associated Chambers of Commerce and Industry of India said it was early to take such steps as the economic recovery was still fragile.<br /><br />Ficci, on its part, felt that the step may make availability of funds through external commercial borrowing route more expensive. Another industry body PHDCCI hailed the apex bank’s decision.</p>