Reserve
Bank of India has today, kept interest rate unchanged, thereby keeping the cost of funds very high.
The industry was expecting downward trend in the interest rate so
that cost of manufacturing can be reduced.
Dr A Sakthivel, Chairman, AEPC said that he had proposed a separate rate for exporting community so that they can compete in the international volatile market.
Dr A Sakthivel urged Governor, Reserve Bank of India for revisiting the interest rate and provides a separate interest rate for exporters so that employment in this vital area can be continued and export target of US$ 18 Billion, set by the Ministry of Textiles, can be achieved.
Dr A Sakthivel, Chairman, AEPC said that he had proposed a separate rate for exporting community so that they can compete in the international volatile market.
Dr A Sakthivel urged Governor, Reserve Bank of India for revisiting the interest rate and provides a separate interest rate for exporters so that employment in this vital area can be continued and export target of US$ 18 Billion, set by the Ministry of Textiles, can be achieved.
Source: http://www.aepcindia.com/press-landing.asp?lngYear=2012
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