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Home > Business > PTI > Report
War not to hit financial system: Jalan
March 28, 2003 20:44 IST
Reserve Bank of India governor Bimal Jalan said on Friday that even if the war in Iraq prolongs it "will not create any problems for the country's financial system" in the next fiscal. "I cannot speculate but as far as the financial system is concerned, it will be taken care of. No problem", Jalan said when asked about the impact of the prolonged war on the Indian economy in 2003-04. Asked about the outlook for inflation, Jalan said, "Let us wait and see. Apart from oil prices and effects of drought I do not see any other evidence of inflationary pressure", he told reporters on the sidelines of a corporate governance seminar. On the bank rate cut, Jalan said, "wait and see". He, however, declined to comment on any reduction in the cash reserve ratio.
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