ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Steel- Receding Self-Reliance

of the interest ceiling can only be surmised. Is it intended to make borrower banks more cost conscious? Or is it part of keeping in step with the ongoing liberalisation in other areas of economic policy? The group's suggestion is in fact fraught with some risk, especially in the context of its other recommendation to keep UTI and LIC, the only two non-bank participants, out of the market, which would limit the supply of funds.

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