RBI Rate cuts will boost demand

The industry has hailed the RBI decision to cut key rates, saying it's a positive step to boost demand and FDI. The RBI recently cut repo or short-term rates to 7.75 per cent and the CRR to 4 per cent. The industry expects the move will lead to reduction in overall interest rates. LIC Housing Finance has also hinted at cuts in their home loan rates following the RBI rate cuts.