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March 31, 2001
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Maran for lower rates to exporters


Commerce and Industry Minister Murasoli Maran said on Saturday he favoured lower interest rates on credit extended to exporters.

Maran, unveiling the government's trade policy for 2001-02, said he was aware of exporters' demands for a cut in the rate of interest after the central bank's decision earlier this month to lower its key bank rate.

"As a commerce minister, I would like to have corresponding reduction in the cost of credit for exporters also," Maran said.

"The dialogue with the ministry of finance and the Reserve Bank of India is continuing. At this moment, I can only say I am quite optimistic about the outcome."

The RBI cut the bank rate, its refinancing rate for commercial banks, by half a percentage point to 7 per cent on April 1.

Exim Policy 2001-2002: Full coverage
Union Budget 2001-2002: Full coverage

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