Chidambaram holds talks with bankers on shoring up capital inflows

Finance Minister P. Chidambaram holds talks with bankers on shoring up capital inflows.

Finance Minister P. Chidambaram on August 24, 2013 held a closed-door meeting here with top bankers to take stock of the situation in the wake of rupee volatility and to study ways to shore up foreign capital to bridge the widening current account gap.

P-ChidambaramChidambaram was accompanied by his top officials, including Economic Affairs Secretary Arvind Mayaram, and Financial Services Secretary Rajiv Takru, while the bankers who met the Minister included SBI’s Pratip Chaudhuri, ICICI Bank’s Chanda Kochhar, HDFC Bank’s Aditya Puri, Pramit Jhaveri of Citigroup India, Vijayalakshmi Iyer of Bank of India, Canara Bank chief R.K. Dubey and StanChart India’s Anurag Adlakha, among others.

The meeting assumes importance as it comes against the backdrop of the continuing flight of capital, especially after RBI put restrictions on capital withdrawal by corporates and individuals last week, which triggered concern among overseas investors that the Government was on the verge of a throwback to the early 1999 crisis, when stiff capital controls were imposed due to the balance of payment crisis.

One thought on “Chidambaram holds talks with bankers on shoring up capital inflows

  1. anjanroutary says:

    What about my complaint to Secretary financial servicessend by PMO office on 4.1.2013 against Statebank of India

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