Expressing concern over the increase in short-term lending and borrowing rates by 0.25%, industry chamber FICCI on Tuesday said the move could slow down the growth momentum of the country.
Apollo Tyres chairman and managing director Onkar Kanwar on Tuesday took over as the new president of industry body FICCI for 2004-05.
The battle for the takeover of MCFL has been going on for one year.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company