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Article: RBI measures would affect expansion plans: India Inc.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 25, 2008
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RBI measures would affect expansion plans: India Inc
New Delhi, Jun 25 (PTI) India Inc today expressed concerns that Reserve Bank's steps, announced late evening yesterday, to tighten money supply further would have an impact on expansion plans of corporates.
"Steps taken by the apex bank would affect the expansion plans," Assocham President Sajjan Jindal said. However, he hoped that corporates' global acquisition plans will continue as they raise funds mainly from abroad.
Another industry chamber Ficci said RBI's decision has substantially pushed up the "interest cost for industries, particularly in a phase of acute international competition ...