Interest Rates for loans must be reduced: Emphasis by Central Minister Jaitley!
Posted on: 11/Aug/2014 3:35:44 PM
The central Minister for finance, Mr. Arun Jaitley, has emphasized the need for reducing the interest rates for loans.
The Minister expressed hopes that the Reserve Bank of India will positively consider reducing the prevailing interest rates for loans in the current situation of rising inflation and failure of monsoon.
The Finance Minister clearly expressed that it is the sole prerogative of RBI to decide on the interest rates. With the purpose of containing inflation, the interest rates have been maintained at a high level leading to less industrial growth.
Interest rate on housing loans is also high. In this scenario, groups of various cadres have requested RBI to reduce the prevailing interest rates on loans.
