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Our Bureau

Hyderabad, April 24

The Chief Financial Officer of Satyam, Mr Srinivas Vadlamani, said that the increase in ECBs (external commercial borrowings) limit to $400 million is an incremental measure. The existing limit of $300 million itself is sufficient limit to meet the funding requirements of many companies. "To that extent, I do not see any major benefit out of this increase — more so for the software companies.

IT biggies are any way cash rich and they do not borrow either externally or internally. For IT SMEs, the existing limit itself is good enough. To that extent we are nonchalant about this increase," he explained. However, Mr Vadlamani said that the initiative to lower the medium-term target for inflation from 5-5.5 per cent to 4-4.5 per cent and emphasis on growth rather than just price stability are laudable.

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