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Bank rates to remain stable as long as govt remains borrower, says economists
Our Corporate Bureau
Mumbai, March 14: Economists feel that bank interest rates will not go down further as long as the government remains a big borrower. Mumbai University professor of economics Dr Errol D'Souza said that there has to be generation of funds for borrowing and people will not invest in banks if the interest rates are dropped further. He was speaking at a seminar at the Bombay Chamber of Commerce and Industry (BCCI). He said that most of the small savings in the banks were made by individuals and any cut in the interest rates would not attract customers to make bank deposits.Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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