Assocham opposes interest rate hike to tame inflation
NEW DELHI: Apprehending tightening of monetary policy by the Reserve Bank in its forthcoming annual credit policy, industry chamber Assocham said increasing interest rates will not help in containing inflation. “The price and supply conditions may get worse if the RBI resorts to raising interest rates to control the spiralling inflation and the move would not only hurt the industry but also the consumers,” according to an Assocham survey of CEOs. RBI is slated to announce the annual credit policy on April 29 amid apprehension that it would raise interest rates to control inflation.