Fearing a further slowdown in the manufacturing sector and prospects of subdued growth, India Inc in its pre-monetary policy consultations with the Reserve Bank on Tuesday pressed for reduction in interest rate by at least half a per cent. Raising concerns of slowing investment, industry body Assocham demanded that the RBI in its annual monetary policy on April 17 should cut benchmark interest rates by 0.5 per cent. The meeting, chaired by Reserve Bank Deputy Governor Subir Gokarn , was attended by representatives of different industry chambers, including Ficci and experts.......
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