Why the RBI announcement? Union Minister Description! | Dynamics

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Mumbai: ” The announcement by the Reserve Bank to raise interest rates on bank loans may have come as a shock to some.

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However, it is a necessary step, ” said Union Finance Minister Nirmala Sitharaman. The rise in interest rates since August 2018 has come as a shock.

At a function in Mumbai, Maharashtra, Nirmala Sitharaman, Union Minister of State for Finance, was presented with the award for outstanding economic performance during the Corona period. Then Nirmala Sitharaman said: The Reserve Bank has issued an announcement raising the interest rate on bank loans. Some may have been shocked by the announcement between monthly review meetings on interest rates.

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But this is a timely move. The right move is to buy crude oil from Russia. Russia was ready to supply crude oil at a discount. At the international level, buying crude oil from Russia is the right thing to do, he said.

Mumbai: ” The announcement by the Reserve Bank to raise interest rates on bank loans may have come as a shock to some. nsimg3025434nsimg But, it is a necessary step, ” as,

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