Trending Now
- Alliance talks between AIADMK and BJP are ongoing. An announcement will be made at the right time – Union Home Minister Amit Shah.
- Vijay spoke about TVK vs. AIADMK only to motivate party workers – AIADMK General Secretary Edappadi K. Palaniswami.
- South Indian audiences are not interested in Hindi films, which is why they don’t succeed – Salman Khan.
- KL Rahul joins Delhi Capitals; the team will face Hyderabad tomorrow.
Coimbatore
Coimbatore ICCI welcomes RBI decision to cut interest rates
September 29, 2015
The Coimbatore chapter of Indian Chamber of Commerce Industry has welcomed the decision of the Reserve Bank of India to reduce the repo rate by 50 basis points from 7.25 to 6.75 percent.
In a statement, the Chamber President, D. Nandakumar said, “This move, we feel, will give a very good push in improving the sentiment and it is a big surprise to the market which expected only a 25 percent basis point cut.”
The reduction will also lower the interest rates for individual and corporate borrowers
Nandakumar also said that the government has understood the need to address the low capacity utilization and weak production indicators and that the RBI had responded accordingly by lowering the Repo rates.
