Trade Association insists on resolving financial crisis | Dynamics

by time news

Madurai: In Madurai, the chairman of the Tamil Nadu Chamber of Commerce and Industry Jagadeesan said: The Central Reserve Bank has raised the interest rate on loans to banks from 4 per cent to 4.40 per cent. This was followed by a sharp rise in interest rates to 0.50 per cent at the current fiscal policy meeting. The industry and business sector, which is already suffering from a severe financial crisis and inflation, is being pushed into an additional financial crisis. The rupee has depreciated sharply, affecting the stock market. Therefore, action should be taken to reduce the interest rate on loans.

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