She described the current high cost of borrowing as "very stressful".
"..when you look at Indiais growth requirements, you can have so many different Voices coming out and saying, the cost of borrowing is really very stressful. At a time when we want industries to ramp up and move building capacities.. bank interest rates will have to be far more affordable,', Sitharaman said at State Bank of India (SBI's) annual business and economic conclave. Retail and small borrower lending rates are linked to the Reserve Bank of India's policy repo rate, while corporate loans depend on the marginal cost of funds-based lending rate (MCLR).
This story is from the November 19, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 19, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Test
Test
Robust exports drive Bajaj Auto PAT up 8%
Outbound shipments hit 500K units after 9 qtrs; Chetak margins improve
Hyundai India profit slips 19%
India's second-largest carmaker, Hyundai Motor India (HMIL), posted a 19 per cent decline in consolidated net profit for the October-December quarter (Q3) of 2024-25 (FY25), at ₹1,161 crore, compared to ₹1,425 crore during the same period in 2023-24 (FY24).
Bajaj Finance a hot pick after strong Q3 showing
Stock reclaims Mt 8K intraday after 15 mths
Samara-backed SMT, More Retail gear up for listing
Sahajanand Medical Technologies (SMT), an Indian cardiovascular device maker backed by private equity firm Samara Capital, is preparing for an initial public offering (IPO) worth around ₹1,500 crore, said two top executives of Samara.
Maha Kumbh stampede: Crowd management efforts ramped up
Millions of devotees flocked to the Triveni Sangam and other ghats at the Maha Kumbh to take a dip on Thursday with the Uttar Pradesh government ramping up efforts to ensure crowd management and safety of people a day after the stampede tragedy.
May Consider Applying for Universal Bank Licence in Two Years
India's first small finance bank (SFB) is aiming to apply for the universal bank licence in the next two years. In a virtual interview, Capital Small Finance Bank Managing Director and Chief Executive Officer SARVJIT SINGH SAMRA tells Harsh Kumar that the SFB will continue to expand its presence beyond the northern part of India in the upcoming financial year. Edited excerpts:
Benchmarks extend gains for third day
Extending the winning run to the third day, benchmark indices Sensex and Nifty closed higher on Thursday on buying in heavyweight stocks Reliance Industries, Bharti Airtel, and HDFC Bank.
India's foundation AI model in months
Vaishnaw says Meity working with experts to build framework
Retail biz was slow initially, now there is sense of positivity
Urban consumption has shown some green shoots since Makar Sankranti and is expected to improve for the rest of the year, says GAUTAM SINGHANIA, chairman and managing director of Raymond. In an interview with Dev Chatterjee and Sharleen D'Souza in Mumbai, Singhania says the group is moving to an asset-light strategy. Edited excerpts:
