Staff Reporter | 12 Dec, 2018
association FIEO on Wednesday expressed hope that the new Governor would take
steps to increase credit flow to the sector.
the appointment of Shaktikanta
Das as the new RBI Governor, Ganesh Gupta, President, FIEO said that his
previous exposure as Revenue and Economic Affairs Secretary would come very
handy in dealing with vexatious economic issues confronting the country.
He said that
the new Governor will act as an effective bridge between the Government and the
Central Bank so as to give necessary boost to the Indian economy.
Das would be
able to address the concern of the states having worked in the Finance
Commission, the FIEO chief added.
A movement of Rupee
in narrow band of 5 per cent would be more appropriate for export sector as
near predictability in rate would reduce the cost of hedging as well, he added.
He hoped that the new Governor will ensure flow of credit to exports sector,
which is declining sharply on year-on-year basis affecting the liquidity of exporters
particularly the MSMEs.
While exchange rate is market driven, Gupta propagated for RBI intervention to
stem extreme volatility in Rupee as it is neither beneficial for exporters nor