Hope banks pass on repo rate cut by reducing lending rates: Thermax

MS Unnikrishnan, MD and CEO of Thermax, says with a 25 basis point repo rate cut, banks will be bound to pass on the benefit. He agrees that the transmission mechanism is not that direct, but still remains hopeful that costs will come down for companies sooner rather than later. Mr Unnikrishnan also expresses disappointment that CRR was left unchanged by the RBI, explaining that it would have helped to have more money in the system.