Rajan tries to calm Indian markets; says wont see strong selling from foreign investors
Rajan also said the central bank would ensure orderly movement in financial markets and was prepared to inject appropriate amounts of domestic as well as foreign liquidity into markets.
The Reserve Bank of India (RBI) Governor Raghuram Rajan said he did not expect significant selling from foreign investors in India due to Britain's vote to leave the European Union because of better economic fundamentals and upcoming government reforms.
Rajan, in a phone interview with ET NOW television channel, also said the central bank would ensure orderly movement in financial markets and was prepared to inject appropriate amounts of domestic as well as foreign liquidity into markets.
"As of now don`t see significant amount (of capital) flowing out," Rajan said.
Rajan added India needed to focus on forming its monetary policy committee and passing a key tax reform or the goods and services tax (GST) to ensure macro-economic stability.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.