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RBI reduces interest further!
Posted on: 16/Jan/2015 12:55:13 PM
Reserve Bank of India has reduced the interest rate from the prevailing 8% to 7.75%.
RBI has announced that this would be effective immediately.
RBI informed that the next planning is scheduled on 3rd February.
RBI Governor, Mr. Raghuram Rajan, stressed the need for the government and trade leaders to make intensive efforts with top priority to control the price escalations.
It is expected that the interest rates may be revised up during the meeting scheduled on 3rd February.
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