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Oil firms to acquire foreign debt funds

Infrastructure Finance
October 1, 2013October 1, 2013
Oil firms to acquire foreign debt funds
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To reduce pressure on the current account deficit (CAD), Centre has asked the state-owned power firms to utilise foreign debts to fund their foreign acquisitions completely. Instead of using their own cash reserves, the state power firms should utilise foreign debts or domestic loans to acquire foreign firms, so that they don’t deplete India’s foreign exchange reserves and put more pressure on the current account deficit.

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