Indian IT companies get a lift in Japan
Japanese banks borrow at one of the lowest rates in the world but their personal loan rates can go up to 29 per cent. Japan's central bank has now cut the ceiling on interest rates from 29 per cent to 19 per cent, after widespread protest by consumer groups against the high interest rates. It is a big regulatory shock for companies as it will hit their toplines massively, said Clark Graninger, President and CEO, Aplus Company.
