Investors Will Go For India: Raghuram Rajan
Reserve Bank Governor Raghuram Rajan sought to allay fears amid the stock market plunge and the rupee nearing its lowest-ever level, saying things will stabilise and people will look at stable emerging markets, including India. The rupee, Rajan said, has been “relatively strong” in the EM currency basket, but India is affected by the “same kind of jitters” impacting other world markets. On RBI’s monetary policy stance next month, he said the rest of the world is facing a deflationary environment and “that will help India disinflate “. Rajan is confident that India is on target to meet January inflation target of below 6 per cent.