Bank interest rate cut down

Bank interest rate cut down

Banks will soon said to cut down interest rate in view for recent monetary policy by the RBI. Accouncement was said to be made by Economics Affairs Secretary Shaktikanta Das. 

Mr.Das stated that Banks are autonomous and the government has given a very strong signal by maintaining the fiscal deficit at 3.5 per cent with small saving rates. RBI has reduced up with policy rate by about 25 basis points. Banks are said to take a policy call and sure they would do in weeks to come. Its expected that banks to take up steps in that direction. India is said to move on a low interest rate as inflation which is under control. We are looking on to the low interest rates and various measures which government has been taken. Centre is said to introduce a Bill in PPP projects and public utility contracts in the upcoming Parliament session. Parliamentary panel is said to be too expected to submit up its report on the Bankruptcy and Insolvency Code on April 29.

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