Rate Transmission By Banks To Consumers Big Issue: Sandip Somany, FICCI
  • WebDesk BTVI
  • Aug 08 2019

Speaking on the meeting with finance minister Nirmala Sitharaman today, Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI), said the real interest rates are still very high, and the issue of transmission of rates by banks was discussed at the meeting. He said it's encouraging that the RBI has reduced rates by cumulative 110 basis points, but the industry is looking forward to some more rate reduction.