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TEA lauds RBI for providing hedging fund to exporters
Tirupur,
Jan
30:
Tirupur
Exporters
Association
(TEA)
on
Tuesday
hailed
the
Reserve
Bank
of
India(RBI)'s
statement
that
hedging
fund
would
be
provided
for
the
benefit
of
exporters
to
off-set
the
additional
cost
in
the
financial
derivatives.
A TEA press release here said during the presentation of the third quarter of monetary policy for 2007-08, RBI Governor Y V Reddy would advise other banks to have a line of credit in dollar and other foreign currencies for providing term-loan and other Investments to exporters.
UNI
Comments
Story first published: Wednesday, January 30, 2008, 14:59 [IST]
