Financial Daily from THE HINDU group of publications
Monday, Apr 12, 2004
Financial Daily from THE HINDU group of publications Monday, Apr 12, 2004 |
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Money & Banking
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Interest Rates `Cut rates on bank advances' Our Bureau
KOCHI: The Kerala-based All India Bank Customers' Association (AIBCA) has demanded reduction in interest rates of the banks on advances. The banks have reduced the interest rates on deposits significantly while they have not effected a corresponding cut in the interest rates fixed for loans, Advocate Mathew Paul, President, AIBCA said in a representation sent to the Union Finance Minister. As a result the borrowers had landed up in serious debt trap, which had even driven some to commit suicide, he alleged. The Association had sought immediate intervention of the Union Finance Minister in the matter, he added.
More Stories on : Interest Rates | Kerala
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