Banks to offer cheaper loans to stimulate consumer demand: Govt
Oct 03 2013 , New Delhi
The move is aimed at stimulating demand in Asia's third-largest economy that is struggling to recover from the worst slowdown in a decade.
The decision was taken at meeting between Finance Minister P. Chidambaram and new RBI chief Raghuram Rajan, the statement added.
New Delhi has also decided in principle to inject 140 billion rupees in state-run banks in this fiscal year, it added.