Business Daily from THE HINDU group of publications
Saturday, Nov 04, 2006
ePaper
Business Daily from THE HINDU group of publications Saturday, Nov 04, 2006 ePaper |
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Money & Banking
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Financial Markets Hedge funds can become a source of risk: Reddy Our Bureau
New Delhi , Nov. 3 The Reserve Bank of India Governor, Dr Y.V. Reddy, said on Friday that hedge funds could become a source of risk for financial markets and ought to be looked at carefully. "The way hedge funds are operating now, they could be a source of risk," Dr Reddy said in his address at the Assocham conference on `Managing global risks for emerging markets' here on Friday. He, however, noted that hedge funds have come to stay. Dr Reddy highlighted that the hedge funds also have the potential to spread the risk. Later, commenting on the flow of credit to the small and medium enterprises (SMEs) sector, Dr Reddy admitted that the corporate debt restructuring (CDR) mechanism that was designed for SMEs have not worked up to the expected lines. He said that the RBI was thinking of reinforcing institutional mechanism at the State-level to ensure that the CDR mechanism works effectively and the SMEs are helped on this front.
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