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04-October-2016

Today In a press release, Raja M Shanmugham, President TEA said he welcomed the RBI decision to reduce the repo rate by 0.25% from 6.5% to 6.25% with immediate effect.

Further Shanmugham said by taking in to account, the banks should immediately come forward to pass on the benefits to the customers and fulfil the real objective of Repo rate cut by RBI.

Shanmugham said in his statement that once the banks pass on the benefit, it will be helpful to enhance the competitiveness of the knitwear garment exporting units, which are struggling to sustain in the competitive global market.

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