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TEA welcomes annual credit policy
TIRUPUR:
Welcoming the annual credit policy for 2006-07 by the Reserve Bank of India, the Tirupur Exporters' Association has said that the buoyancy in the economy would continue the growth momentum with the interest rates remain unchanged. In a letter to the RBI Governor Y. V. Reddy on Tuesday, the TEA President, A. Sakthivel, said that the continued measures to contain inflation would help to improve the economy. The focus on credit quality and financial market condition to support export and investment demand for maintaining macro economy, in particular, financial stability is a welcome measure, he added. Mr. Sakthivel requested Mr. Reddy to reduce the interest rate for export-based units at Prime Lending Rate.
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