RBI studying Dubai World default impact: Subbarao

DUBAI-RBI

Hyderabad, Nov 27 (PTI) The Reserve Bank India on Friday
said it is examining the impact of the Dubai government's
decision to suspend debt payments by Dubai World, which led
global stock markets to tumble amid fears of widespread
default.

Governor Duvvuri Subbarao said he has asked his officials
to study the impact and "if necessary make recommendations."
"We shouldn't react to instant news like this. One lesson
that we learnt from the (global financial) crisis is that we
must study the developments and measure the extent of the
problem and hence study the impact on India," said Subbarao,
who attended an interactive session with the students of
Indian School of Business here.
Meanwhile, N Chandrasekharan, CEO and MD, Tata
Consultancy Services, said it did not have much exposure to
Dubai markets and so impact if any is negligible. PTI GDK
SKT


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