With the aim to support the economy in the times of financial crisis, a set of recommendations, including further cut in key interest rates were planned on Sunday by the leading industry body, the Confederation of Indian Industry (CII).
A statement issued by the chamber said, "It is necessary to further reduce repo rate by at least 50 basis points and in CRR (cash reserve ratio) by 150 bps to ensure adequate liquidity and reasonable cost of funding."