Automobile Companies Term RBI’s Rate Cut As “Too little Too Late”
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Similarly,
Society of Indian Automobile Manufacturers (SIAM) Deputy Director General Sugato Sen welcomed the move, but he also added that it was not enough. "The 25 basis points reduction is not going to have any impact on the EMIs. We expect the rates to further come down in the next few months and also the banks to reduce their lending rates," he said.
Rakesh Srivastava, senior vice president, sales and marketing,
He further added that the move would help the auto industry and the manufacturing sector in general, which is an integral part of the Narendra Modi government's Make in India campaign.
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