On January 29, Shri Y V Reddy, Governor, Reserve Bank of India presented the third quarter of Monetary Policy for the year 2007-08.
Shri A Sakthivel, President, Tirupur Exporters Association (TEA) whole heartedly welcomed the Monetary Policy.
The TEA President said that a hedging fund may be created for the benefit of exporters to offset the additional cost involved for exporters on going for the financial derivatives.
Shri Sakthivel further added that Reserve Bank of India may advise all banks Chairmen to have a line of credit in dollar and other foreign currencies for giving term loan and other investments to exporters.
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