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Interest rates still high: Kamal Nath

Interest rates in India are still high and have to be brought down,the trade minister said.

Written by Reuters | New Delhi | Published: February 12, 2009 11:02:25 am

Interest rates in India are still high and have to be brought down,the trade minister said on Thursday.

“Our interest rates are too high … We need to bring down the interest rates,” Kamal Nath said referring to the need to lower borrowing costs for industry and exporters.

Since October,the RBI has cut its key lending rate by 350 basis points in a slowing economy.

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