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“The measures announced by RBI will act as a big relief for the industry, financial institutions, mutual funds as well as Indian economy as a whole. The liquidity with the banks due to change in rates and policies will help to boost the demand in the economy. However, there needs to be a mechanism to ensure that individual banks mandatorily pass on rate cuts, moratorium of term loans, deferment of interest and realignment of working capital loans to the borrowers immediately.”

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