Commerce Minister recommends 2% RBI rate cut
Commerce and Industry Minister Nirmala Sitharaman on Wednesday 'recommended' a 200 basis points (2%) interest rate cut by the RBI and called for a fresh approach on lending to small and medium enterprises. These enterprises, which create jobs and contribute to exports, are "hard-pressed" for money, she stated. This follows Urjit Patel's appointment as the RBI's next Governor.