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- “Fireworks worth more than Rs.7,000 crore were sold this year for Deepavali. The TN Govt will extend full support to this industry, which is aiming to achieve Rs.10,000 crore in fireworks sales next year.” – Minister Keerthana
- “On the festival of lights, 11 people were killed in various incidents across TN. Alcohol was the main cause of most of the crimes that took place.” – Anbumani Ramadoss
- “Under this TVK Govt, 467 companies have been sealed, resulting in lakhs of people losing their jobs.” – AIADMK General Secretary EPS
- “TN, which was a peaceful state during M.K.Stalin’s Govt, is now witnessing the deterioration of law and order.” – Former CM O.Panneerselvam
- “11 murders in a single day – on Deepavali, the sounds of murders were heard across several districts of TN, alongside the sound of fireworks.” – EPS
Coimbatore
TEA hails repo rate cut
August 7, 2019
Coimbatore : Tirupur Exporters’ Association (TEA) on Wednesday hailed the reduction of repo rate by 0.35 basis points to 5.4 announced by RBI in its monetary policy.
TEA president Raja M Shanmugham in a statement said that overall, banks had reduced their weighted Average lending rates on fresh rupee loans only by 0.29 per cent during the current easing phase so far (Feb-June 2019), when RBI reduced the repo rates by 0.75 per cent during this period.
Despite the meetings RBI Governor had with banks and asking them to transmit the reduction, only one or two of them reduced the rates, he pointed out.
He expressed hope that by taking into account the requirement of industry, all banks would come forward to pass on the reduction of interest rate to the borrowing units, which is desperately required for the knitwear garment exporting units, particularly to MSME exporting units.
