Financial Daily from THE HINDU group of publications
Friday, Nov 01, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 01, 2002 |
|
|
|
|
|
Money & Banking
-
Credit Policy Industry & Economy - Industry Associations Bank rate cut short of industry expectations Our Bureau
COIMBATORE, Oct. 31 THE Credit Policy announced by the RBI, though generally welcomed by the industry here, does not seem to have met the expectations of the industry in as far as cut in interest rate is concerned. There is also apprehension that the benefit of any cut in interest rates may not percolate down to the smaller segments of the industry. In a statement, Mr A.V. Varadharajan, President, Indian Chamber of Commerce and Industry (ICCI), Coimbatore, while welcoming some of the provisions of the Credit Policy, felt that a "mere 0.25 per cent reduction" in bank rate and cash reserve ratio was not sufficient to bring down the lending rates. He said the bank rate cut "falls very short of our expectations" and hoped for further cut in bank rate and CRR to help economic growth. The policy also did not have any positive measures for exporters. Mr G. Rajendran, President, Southern India Engineering Manufacturers' Association (Siema), felt that the expected cut in interest rates on housing and consumer loans may help the engineering industry.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|