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Nirmala Sitharaman city New Delhi India covid-19 president Government Nirmala Sitharaman city New Delhi India

Government closely watching banks’ lending rates, says FM Sitharaman

Nirmala Sitharaman city New Delhi India covid-19 president Government
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NEW DELHI : The government is closely watching banks’ lending rate changes in response the monetary stimulus given by the Reserve Bank of India (RBI) meant to help the industry’s recovery, industry body PHD Chamber of Commerce and Industry said here quoting finance minister Nirmala Sitharaman who held a virtual meeting with its leadership.“We are closely monitoring the situation in consultation with banks so that relief measures announced by the government are effectively percolated at ground levels especially, the transmission of repo rate cuts to consumers in terms of reduced interest rates," the industry chamber quoted Sitharaman as saying at the meeting which was not open to media.

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COVID-19
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