No Further Cut In Exim Bank Rates

Exim Bank managing director Y B Desai has indicated that the scope of a further decrease in the banks interest rates on loans exists only if there is a further drop in the cost of raising funds. The bank had reduced interest rates on rupee loans by 200 basis points in two trenches in the recent past, he said at a meeting of the aexecutive committee of the PHD Chamber of Commerce and Industry.