India looks to capital account convertibility
NEWS
The committee, set up by the country's central bank, the Reserve Bank of India (RBI), will provide a medium-term operational framework that will include sequencing and timing of fuller convertibility on the capital account.
"Economic reforms in India have accelerated growth, enhanced stability and strengthened both external and financial sectors," said the RBI in a statement. India's trade as well as its financial sector is already considerably integrated with the global economy, it added
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