• Download mobile app
23 Aug 2019, Edition - 1501, Friday

Trending Now

  • Oil companies stop fuel supply to Air India at six airports
  • P Chidambaram to sleep on ‘takht’ in Tihar once CBI custody ends
  • ‘Crminalisation fine, but will look into it’. Supreme Court issues notice to the Centre.

Coimbatore

Reduction of interest will pave way for investment and export growth: TEA

Covai Post Network

Coimbatore : Tirupur Exporters Association (TEA) today hailed the reduction of repo rates by 25 basis point from 6.50 per cent to 6.25 per cent, which will pave way for the growth of investment and exports.

In a statement TEA President. Raja M Shanmugham said the Monetary Policy Committee decision to change Monetary policy stance from Calibrated
tightening to Neutral gives confidence that there would not be any interest hike in the near future.

By taking into account of this, all banks will 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 which are suffering further to macroeconomic changes, he said.

Subscribe To Our Newsletter

COIMBATORE WEATHER