Home / Knowledge / News / Apparel/Garments / TEA welcomes RBI decision to cut repo rates & CRR
TEA welcomes RBI decision to cut repo rates & CRR
29
Jan '13
RBI Governor Dr. D.Subba Rao  released the Third-Quarter Monetary Policy 2012-2013 announcing the RBI decision to reduce the Repo Rate (Short-term lending to banks) by 25 basis points from 8.00% to 7.75% and also  Cash Reserve Ratio (CRR) by 25 basis points  from 4.25% to 4.00%.

While welcoming the RBI’s decision to reduce the Repo Rate for  and Cash Reserve Ratio by 25 basis points, Dr. A.Sakthivel, President said that the industry was actually expecting a reduction of 50 basis points as the interest rate cut would largely help Tirupur knitwear exporting units, which are currently under financial pressure due to various issues.

Dr. Sakthivel noted that it is the required time for the banks to extend help to the ailing units and expect that all banks would come forward to reduce their Base Rates without delay to support the survival and growth of industry.

Dr.A.Sakthivel said as CRR has been reduced, the fund liquidity is available with banks and they could lend to the needed units. 

Tirupur Exporters Association


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Feb 2020

US surpasses China as India's biggest trading partner

The United States has surpassed China to become India's top trading...

Pic: Shutterstock

Textiles | On 25th Feb 2020

Coronavirus may shift buyers to Turkey, fuel cotton growth

The coronavirus outbreak will cause a possible shrinking of China's...

Pic: Shutterstock

Apparel/Garments | On 25th Feb 2020

Tough for Vietnamese firms to follow EVFTA rules of origin

Though Vietnamese textile and garment firms are aware of the...

Interviews View All

Sanjay Desai & Ashish Mulani, True Colors

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Textile industry, Head honchos

Textile industry
Head honchos

RCEP was always going to be a double-edged sword

Atul Mittal,

Atul Mittal

Established in 1997, Pratibha Syntex produces over 60 million pieces of...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search