Trending Now
- “If Edappadi Palaniswami permits, a thousand young members from the Virudhunagar district AIADMK are prepared to take up arms and engage in battle under my command.” – Former AIADMK Minister Rajendra Balaji
- “India is ready to deal with any counter-attack by Pakistan” – Wing Commander Vyomika Singh
- Central govt orders extension of CBI Director Praveen Sood’s tenure for another year
Coimbatore
Knitwear exporters want repo rate cut benefits to be passed on
August 2, 2017
Knitwear exporters in Tirupur today appealed to banks to pass on the rate cut benefits to exporters who have
been struggling and facing initial hiccups after implementation of the Goods and Services Tax.
In a statement, Tirupur Exporters’ Association president Raja Shanmugam thanked the monetary policy committee for reducing the repo rate to 6 per cent. However, banks should pass on the rate cut benefit to exporters, he added.
The association has already represented to all banks for enhancement of limit to ease the working capital blockage of its units, especially SMEs, and hoped this would be considered favourably.
