FM says interest rates are hardening

Finance Minister said on Monday that interest rates are hardening during a debate on the union budget in the Parliament.

Finance Minister Palaniappan Chidambaram said on Monday that interest rates are hardening during a debate on the union budget in the Parliament.

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"The bank rate today is at 6 per cent. Reverse repo is at 6.5 per cent ... interest rates are hardening," Chidambaram told Parliament.