Bank interest rates to be reviewed if inflation falls

MADRAS(PTI): Banking interest rates would be reviewed if the inflation came under control, India’s finance minister Dr.Manmohan Singh said last week. He said the inflation rate had come down 10 6% and he expected a further improvement on this front.

Dr.Singh, who has introduced a number of structural changes to liberalize the economy, was inaugurating the southern regional office of the Securities and Exchange Board of India (SEBI), a stock exchange regulatory body.

He asserted that the country’s “tight direction” which should augur well for the growth of the capital market.

Article extracted from this publication >>  June 11, 1993