Finance secretary expects bank rates to fall

Indian bank lending rates are expected to come down but there have been no specific directives for them to cut interest rates, a senior finance ministry official said.

Indian bank lending rates are expected to come down but there have been no specific directives for them to cut interest rates, a senior finance ministry official said.

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When asked if the government would give directives to banks to cut rates, Finance Secretary Ashok Chawla said, "No".

Asked whether he expected interest rates to come down, he added, "As always, we expect interest rates to go down".