The President, or the government for that matter, wants Rs 150 billion to be lent through the banking sector to spur economy activity in the country.
A large number of businessmen, including the likes of hoteliers, have applied for loans at 4% interest rates.
The same day, the Central Bank’s Monetary Board decided to introduce new credit schemes under Section 83 of the Monetary Law Act No. 58 of 1949.
This means the President’s rebuke has yielded results.
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