It is a pleasure and privilege to deliver the M. Ct. M. Chidambaram Chettyar Memorial Lecture honouring one of the most eminent entrepreneurs and financiers of the early twentieth century. 2. The Chettyar community of Tamil Nadu has made impressive contributions to our national life. The stereotype view is that the Chettyar community is conservative. But Shri M. Ct. M. Chidambaram broke that stereotype.
The growth rate of money stock (M2 + CDs) in June was higher than that of the previous month due mainly to the inflow from postal savings. Funding costs for firms are on a declining trend reflecting developments in market interest rates. In this financial environment, the lending attitudes of financial institutions and corporate financing conditions remain easy as a whole.