Corpsec Hotline
March 21, 2006
Road Map For Full Capital-Account Convertibility By July 31, 2006

Further to our Hotline of March 20, 2006 on the captioned matter, within a day after the Prime Minister's announcement to prepare a road map for capital account convertibility, on Monday the Reserve Bank of India (RBI) set up a committee for the same and announced its terms of reference.

The committee will be headed by Mr. S.S. Tarapore, former deputy governor of the RBI, with Mr. Surjit Bhalla, Mr. M.G. Bhide, Mr. A.N. Rajwade, Mr. Ajit Ranade and Mr. R.H. Patil as its co-members.

The terms of reference include examining the implications of full capital account convertibility on the monetary and exchange rate management, financial markets and financial system. The RBI has also asked the committee to study the implications of dollarisation in India of domestic assets and liabilities, and internationalisation of the Indian rupee.

The committee will survey regulatory framework in countries which have advanced towards full capital account convertibility and suggest policy measures and prudential safeguards to ensure monetary and financial stability.

 

You can direct your queries or comments to the authors

 

 

Source: The Economic Times, March 21, 2006

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

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Corpsec Hotline

March 21, 2006

Road Map For Full Capital-Account Convertibility By July 31, 2006

Further to our Hotline of March 20, 2006 on the captioned matter, within a day after the Prime Minister's announcement to prepare a road map for capital account convertibility, on Monday the Reserve Bank of India (RBI) set up a committee for the same and announced its terms of reference.

The committee will be headed by Mr. S.S. Tarapore, former deputy governor of the RBI, with Mr. Surjit Bhalla, Mr. M.G. Bhide, Mr. A.N. Rajwade, Mr. Ajit Ranade and Mr. R.H. Patil as its co-members.

The terms of reference include examining the implications of full capital account convertibility on the monetary and exchange rate management, financial markets and financial system. The RBI has also asked the committee to study the implications of dollarisation in India of domestic assets and liabilities, and internationalisation of the Indian rupee.

The committee will survey regulatory framework in countries which have advanced towards full capital account convertibility and suggest policy measures and prudential safeguards to ensure monetary and financial stability.

 

You can direct your queries or comments to the authors

 

 

Source: The Economic Times, March 21, 2006

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.