Tirupur Exporters' Association (TEA) has requested banks to pass on the reduction of repo rate by 25 paise to exporting units. The knitwears garment exporting units, particularly the MSMEs, would benefit by this as they have been suffering due to macro-economic changes.
Only few banks have passed on the benefit to the customers by which the real intention of the RBI for reduction of policy repo rate could not be achieved. The reduction of interest would pave way for the growth of investment and exports.
