Commerce Minister Piyush Goyal has put forward some demands before the Reserve Bank of India (RBI) regarding the rising inflation in the country. In which he said that the Reserve Bank of India i.e. RBI should cut interest rates to speed up development. He said that considering food inflation to choose the option of rate cut is a wrong principle. Due to which inflation can come down in December.
The economy needs speed – Goyal
At a program on Thursday, Goyal said, the management of retail inflation has nothing to do with the rise in the price of food items. Now the time has come when the policy makers and the monetary policy committee should decide together whether the price of food items should be included in the calculation of retail inflation or not. He said that this should be discussed seriously. The economy needs speed.
State Bank of India loan becomes 0.05 percent expensive
Mumbai. State Bank of India i.e. SBI has increased the interest rates of select term loans by 0.05 percent. The new rates will be applicable from Friday. The bank said, the interest rate on a one-year loan will now be 9 percent. The bank has also made loans with a tenure of three and six months expensive. The loan has been made expensive twice in the recent past. The reason for this is that more interest has to be paid to raise deposits.
