Date:31/03/2006 URL: http://www.thehindu.com/2006/03/31/stories/2006033106960500.htm

Tamil Nadu - Chennai

Chamber calls for timely industrial credit

Staff Reporter

"There is no clear and transparent interest rate policy"

CHENNAI: The Southern India Chamber of Commerce and Industry has urged banks to put in place a monitoring mechanism to ensure timely sanction and disbursal of loans to trade and industry.

In a pre-monetary and credit policy (2006-07) memorandum to the Reserve Bank of India, it said such a system was necessitated by the undue delay in sanction of industrial credit.