Business Daily from THE HINDU group of publications
Wednesday, Jul 30, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 30, 2008 ePaper | Mobile/PDA Version | Audio |
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Opinion
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Credit Policy No comment from industry honchos Leaving their industry chambers to pull the punches and do the tight-rope walking, several high-profile industry leaders on Tuesday refrained from commenting on the Credit Policy review of the RBI and the apex bank’s steps to contain inflation. Preferring to remain “off the record”, several corporate captains confessed that though they were concerned about the latest monetary tightening that would further squeeze credit availability, with project roll-outs getting tougher, they were not keen on being quoted. Some of them felt that this was not the time to pull punches as the Government was already grappling with double-digit inflation, even as the growth momentum was showing signs of slowing down. A Delhi-based telecom player said that while he was critical of the measures, he would not want to comment on the issue at this juncture; besides, the direct implication of the measures on his sector was limited. Even prominent real estate players, among those worst hit following the rate hikes, made no public comments. Said a prominent CEO: “Home, consumer and other loan rates are expected to go up, with the RBI announcing a hawkish Credit Policy, but this is no time to pick holes in the move. “I would rather hold my opinion and wait and watch for better news on the inflation front.” Another felt that RBI’s measures were likely to have only a limited immediate impact in terms of controlling inflation. OUR NEW DELHI BUREAU More Stories on : Credit Policy | Economy
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