Finance Minister P. Chidambaram has advised banks to try and rationalise interest rates on loans offered to customers.

He underscored the point that lower interest rates would act as a spur to economic growth and alter customer sentiment. While, to a large extent, lower interest rates depend on policy rates, banks can attempt to improve their operating efficiency, reduce costs and pass on the benefit to borrowers through lower interest rates.

(This article was published on February 9, 2013)
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