CII seeks interest rate cut by 100 basis points

The Confederation of Indian Industry (CII) have sought slash of 100 basis point in the interest rate by the RBI, stating that it would boost the country's economic growth. Kris S Gopalakrishnan, CII president and Infosys co-founder stated, ''we would like to see a 100 basis point decrease in interest rates. Investments will automatically increase if the interest rates come down.''

He stated that in order to augment the economy and take the rate of growth in GDP back to 8-9 per cent within the next two years, it is important to starts investments.

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