..........With the economy mired in a slowdown and the possibility of any decline in interest rates fading, the months ahead promise to be tough on companies which have taken on high levels of debt. The Reserve Bank of India’s recent measures to mop up excess liquidity from the system have had the effect of spiking the cost of short-term borrowings as well. As short-term borrowing costs for companies have gone up by almost 2 per cent in just a month, they will now have to shell out more to finance their working capital requirements. This may force companies facing a cash crunch to delay or even default on.............
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