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72% increase in interest costs at firms raises spectre of debt trap
Posted on: 07-02-2009 , 04:: | DY365 Bureau

Mumbai: Indian companies are struggling with mounting interest costs on the back of slowing sales, growing dependence on domestic debt and high interest rates.
Analysts and economists say the economic slowdown will also see a weak fourth quarter ending 31 March, raising fears that some companies might be headed for a debt trap. Also, working capital cycles have lengthened, while foreign lenders have all, but shut off funding, leaving firms depending almost entirely on domestic lenders such as banks who have been reluctant to reduce interest rates.

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