Need ‘affordable bank interest rates’ to support industry, build capacities
Mumbai, November 19, 2024.
Finance Minister Nirmala Sitharaman on Monday batted for “affordable bank interest rates” to support industries to ramp up and build capacities.
Speaking at the 11th SBI Banking & Economics Conclave, Sitharaman said that despite moderation in certain domestic economic indicators, there was no cause for concern.
“…when you look at India’s growth requirements, and you can have so many different voices coming out and saying the cost of borrowing is really very stressful, and at a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable,” Sitharaman said when asked if she expects a reduction in interest rates soon or if there could be a delay in the cut given current inflation print.
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