RBI Governor: Though there are huge investments, no respite in interest rates!
Posted on: 04/Mar/2015 2:20:27 PM
Reserve Bank of India Governor, Mr. Raghuram Rajan informed that though there has been an increasing trend of huge investment in India, the inflation persists at a high level. This does not facilitate any scope for reducing interest rates.
RBI governor was speaking at a college function in Mumbai.
He informed that though banks across the world have started reducing interest rates , RBI cannot do so in the prevailing circumstances.
RBI governor also informed that the central government and the industries sector have been stressing the need of reducing interest rates. However, RBI has the primary responsibility to keep inflation under check and hence it is not possible to respond to this request for reduction of interest rates.
