Business Daily from THE HINDU group of publications
Monday, Jan 12, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Jan 12, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Economic Offences Money & Banking - Forex Columns - For the Asking
What would be the impact of Satyam scam on India’s foreign exchange position? S. K. Periasamy, ChennaiIt could well affect the current account as well as the capital account of India’s balance of payments in the short and medium run. Our BPOs may be tarred with the same brush which may appear to be irrational but which perception can be condoned given the enormity of the crime perpetrated by the promoter of Satyam. And foreigners would think many times before subscribing to our GDRs and ADRs unless our government takes quick action to send a stern and reassuring message. It could also affect our credit rating in the short and medium terms thus making external commercial borrowings still more expensive. S. MURLIDHARAN More Stories on : Economic Offences | Forex | Satyam Computer Services Ltd | For the Asking
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