......Main worry for the textile entrepreneurs, who are looking for cheaper loans, is the raising of the interest rate under Marginal Standing Facility (MSF) by two percentage points, one of the monetary measures announced by RBI on Monday to suck out excess liquidity from the system and thereby, stabilise the rupee. “This is a ridiculous move leading to the possibility of another hike in interest rates. In predominant small and medium scale enterprises clusters like Tirupur, the need of the hour is for reduction in cost of funds even from the present levels,”......
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