Finance Ministry, RBI dismiss fears of capital control regime

Seeking to calm rattled investors, the Government and Reserve Bank of India (RBI) said there was no reverting to capital control regime. "They are saying that a capital control is coming in... There is no question of us putting any restriction on outflows which are commercial in nature, which means whether it is FII sell...," Economic Affairs Secretary Arvind Mayaram said. He further said: "there is no control of outflows of dividends, profits, royalties, or on any kind of commercial outflows which happen in the normal course." Read More