Industry requests RBI to reduce lending interest rates!!
Posted on: 16/Sep/2014 3:37:25 PM
With the primary reason of the Steep decrease in inflation rate unlike past 5 years, industrial organisations have requested RBI to reduce the interest rates on lending.
The inflation on wholesale prices has reduced to 3.74% last month.
This is the lowest level of inflation experienced since 2009. In this situation, ASSOCHAM (Association Chamber of Commerce and Industry) has requested for reduction in lending interest rates in order to boost the growth in economy.
Secretary of ASSOCHAM, Mr. Rawat has told that the request to be considered during the next finance policy analysis meet of the central government.
The director of CII (Confederation of Indian Industries), Mr. Chandrajit Bannerji informed that the strong measures taken by the government for more FDI (Foreign Direct Investment) will lead to further reduction in inflation rate. This is the ideal situation to reduce the lending interest rates.
