News wire article from our research archive:

'High interest rates a deterrent to growth'

Report from Indo-Asian News Service brought to you by HT Syndication.

New Delhi, July 24 -- High interest rates will act as a deterrent to Indian economic growth, which reached 9 percent in 2007-08, a leading industry lobby said here Thursday.

The industry lobby, Associated Chambers of Commerce and Industry (Assocham), has also advised India's central bank - the Reserve Bank of India (RBI)- not to tighten further money supply in an effort to rein in the double-digit inflation.

Assocham president Sajjan Jindal said "high interest" might push the "economy into low growth", and raise default rates too.

"Economy may slip into low growth phase, causing large number of job losses if the RBI ...

Related newspaper, magazine, and journal articles:

See all results. Or, try our Advanced Search.

Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 60 million articles! Access over 3,500 publications with a FREE trial!