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This is an archive article published on November 27, 2009

RBI studying Dubai World default impact: Subbarao

The Reserve Bank India 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.

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The Reserve Bank India said it is examining the impact of the Dubai government8217;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 8220;if necessary make recommendations.8221;

8220;We shouldn8217;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,8221; said Subbarao,who attended an interactive session with the students of Indian School of Business.

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.

 

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