India extends interest payment support scheme - RBI
MUMBAI (Reuters) - The Indian government has extended a 2 percent interest payment subsidy on rupee export credits to March 31, 2014 for certain employment-oriented sectors, the RBI said in a statement on Monday.
The scheme was supposed to end on March 31 this year.
Sectors including handicrafts, carpet manufacturing and handlooms will be able to benefit, the Reserve Bank of India said in a statement. (Reporting by Shamik Paul; Editing by John Stonestreet)
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India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. Full Article