29 Sep '15, 3pm

Suzlon welcomes India rate cut: INDIA: A more-than-expected cut in interest rate by Reserve Bank of India (RBI...

Suzlon welcomes India rate cut: INDIA: A more-than-expected cut in interest rate by Reserve Bank of India (RBI...

The cut in the repo rate from 7.25% to 6.75% could "spur economic growth, attract investments and is a big boost for economic activities" said Suzlon's group chairman Tulsi Tanti. The repo rate is the rate at which the central bank lends money to commercial banks. "This will act as a catalyst and improve the investor sentiments driving demand thereon. The corporate sector will be encouraged to make strategic investments and this will positively impact demand across industries," he said. The RBI said: "Manufacturing [in India] has exhibited uneven growth in April-July, with industrial activity slowing sequentially in July, although it has been in expansionary mode for the ninth month in succession." Tanti continued: "The concrete steps from RBI on the financing front and the conducive policy environment for renewable energy adds momentum to the growing demand for renewables...

Full article: http://www.windpowermonthly.com/article/1366337/suzlon-we...

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