SJM urges Centre to reduce interest rate on bank loans

Hyderabad, Dec 24 (UNI) Swadeshi Jagaran Manch (SJM) National Convenor P Muralidhar Rao today demanded that the Centre should reduce interest rates on bank loans to small and medium retail businessmen as they face tough competition from the Multi National Companies (MNCs), which were entering into retail market in the country.

Talking to newspersons here, Mr Rao said the banks, providing low interest loans to the MNCs, had been denying loans on low interest rates to small retail business persons.

He said this tendency would affect the livelihoods of several families, who were into retail business.

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