Fed move not to hit India capital outflows: source

Fed move not to hit India capital outflows: source

Patna: Capital outflows from India won’t be hit after the US Federal Reserve’s decision to raise the discount rates, a central bank official said on Friday.

“I don’t see any major impact on capital outflows. We have tightened (policy), they have also tightened," said a senior official at India’s central bank who did not wish to be identified.

“The capital account is partially convertible so capital flows are subject to sentiment." he added.

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