You are here

India government spending drives borrowing costs down

Mumbai

PRIME Minister Narendra Modi has loosened government purse strings, swelling cash piles at Indian banks and driving short-term borrowing costs for local companies to a five-year low.

One-year commercial-paper rates fell to 8.54 per cent last week, the lowest level since...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes