India has built up layers of defences against volatile capital flows

May 22, 2015 12:59 PM

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CHENNAI May 22 Reserve Bank of India Governor Raghuram Rajan said on Friday India has built up layers of defences against volatile capital flows in financial markets by building up its foreign exchange reserves, improving its economy, and focusing on economic growth.

However, Rajan, speaking at an academic institute in Chennai in southern India, added that building foreign exchange reserves "beyond a point" is equivalent to intervention.

Also read: India cenbank says to withdraw temporary cash reserve ratio hike

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