Sectors hit by US tariffs to get RBI support: Guv

THE Reserve Bank will take special policy measures for those sectors which may be hit hard because of punitive tariffs imposed by the US on Indian goods effective Wednesday, governor Sanjay Malhotra said, adding that overall impact on the economy will be minimal.

- BENN KOCHUVEEDAN @Mumbai

He expressed confidence that negotiations for lower duties would fructify. "As you are aware the RBI has been on an easing cycle since February and has reduced the repo rate by 100 bps so far. We have provided ample liquidity to banks, and whatever else is required to support growth, and including those sectors which may be impacted more by higher tariffs in the US; If it were to remain high, we will not be wanting in our job to support those sectors which would bear the maximum brunt," he said in response to a question after addressing the national banking summit organised by industry lobbies IBA and Ficci here on Monday.