September 29, 2015
Tirupur Exporters’ Association (TEA) today welcomed the
reduction of repo rate by 0.5 per cent by RBI in its fourth bi-monthly
monetary policy for the year 2015-16.
In a statement, TEA president, A Shaktivel hailed the RBI move to
reduce repo rate from 7.25 per cent to 6.75 per cent with immediate effect.
Endorsing RBI’s view that banks should come forward and transmit
the rate reduction to the customers to get the actual benefit of reduction, Shaktivel said that banks should also work out to reduce their base rate, which will trigger more investment and growth