Rajan: Need no bonds to bridge CAD

There is no reason to consider issuing a sovereign bond in global markets to fund Indias bulging current account deficit CAD,the finance ministrys chief economic adviser Raghuram Rajan said on Sunday.

Certainly not foreign exchange denominated bond but even a rupee bond. Given that our focus is on easing access to Indian sovereign rupee markets and increasing liquidity here and raising depth here,it seems thats the safer way to finance than to go outside and issue a bond, Rajan said at the ADB meeting here.