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RBI official concern over liberalisation

Our Bureau

Mangalore , July 9

THE Chief General Manager, Foreign Exchange Division, Reserve Bank of India, Mumbai, Mr F.R. Joseph, has said that liberalisation process should not result either in "dollarisation" of Indian economy or in internationalisation of Indian rupee.

A Karnataka Bank press release said that he was participating in an interactive session with authorised foreign exchange dealers at the bank's premises here recently.

Presenting the various developments under the Foreign Exchange Management Act, he urged the participants to ensure hassle-free services to the customers. Mr N.S. Chakkera, General Manager (Credit), Karnataka Bank, Ms Vanitha Venugopala, Deputy General Manager, Foreign Exchange Division, RBI, Bangalore, and Mr Jaikumar, Manager, Foreign Exchange Division, RBI, Bangalore, were present.

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