When competitiveness is the key for survival in the global market, the 25 bps cut in repo rate is certainly a welcome move. However, the benefit of the decision would be of no use if it is not passed on to the customers, said the President of Tirupur Exporters' Association, A Sakthivel.
Stating that excepting one or two banks, the rest have not reduced the interest rate after the RBI had announced a cut in repo rate in mid-January this year.
He said unless such supporting measures are passed on to the customers, it would not benefit them.
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