With the aim of helping exporters overcome a fund crunch, the Federation of Indian Export Organisations (Fieo) has asked the Reserve Bank of India (RBI) to set up a Libor-linked forex loan facility, especially for small and medium businesses.
Alluding to the latest RBI data, Fieo President, Mr Ramu S. Deora, said rising interest rates had impacted credit offtake by two percentage points, with the credit growth rate slowing down to 18.5 per cent.Source : Exim News Service - MUMBAI, Sept. 8
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