Finance Minister Pranab Mukherjee today, 10 June 2009 asked banks to cut interest rates and provide affordable credit to industry to spur economic activity. Addressing chief executives of public sector banks in New Delhi, Pranab Mukherjee urged the banks to provide credit at reasonable rates.
The reduction in key rates by the Reserve Bank of India (RBI) is not adequately reflected in the reduction of Benchmark Prime Lending Rates (BPLR) of banks, he added.
The finance minister added India's economy was looking with a lot of hope, as a result of the various measures announced by the government and RBI.
The reduction in key rates by the Reserve Bank of India (RBI) is not adequately reflected in the reduction of Benchmark Prime Lending Rates (BPLR) of banks, he added.
The finance minister added India's economy was looking with a lot of hope, as a result of the various measures announced by the government and RBI.
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