Date:27/11/2008 URL: http://www.thehindubusinessline.com/2008/11/27/stories/2008112752600600.htm

Back Challenges will remain: Leeladhar

Our Bureau

Mumbai, Nov. 26 Challenges to the Indian economy still remain as the global uncertainties continue to persist, though the impact of the global crisis on India is to a much lesser extent, said Mr V. Leeladhar, Deputy Governor, Reserve Bank of India.

In his address at the Bankers’ Club, Kolkata recently, Mr Leeladhar said that the RBI will continue to closely monitor the developments in the global and domestic financial market and will take swift and effective action, as is appropriate.

While the recent measures taken by RBI are in line with the need of the hour, it has to be borne in mind that they are ad hoc in nature in response to a particular situation, Mr Leeladhar said.