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Fed move not to hit India capital outflows

A senior RBI official said,capital outflows from India won't be hit on Fed's decision to raise rates.

Written by Reuters | Patna | Published: February 19, 2010 11:47 am

Capital outflows from India won’t be hit after the US Federal Reserve’s decision to raise the discount rates,a Reserve Bank of India (RBI) official said on Friday.

“I don’t see any major impact on capital outflows. We have tightened (policy),they have also tightened,” said a senior official at RBI who did not wish to be identified.

“The capital account is partially convertible so capital flows are subject to sentiment.”

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