India's decision to allow 51 per cent FDI in multi-brand retail has improved the market sentiment and helped the rupee to rebound, Reserve Bank Deputy Governor Anand Sinha said this in Beijing today. However, he said that success of FDI in retail depends on how much India gets in the end. The domestic currency rose to five-month high of 52.49 intra-day on Friday last against the US dollar on signs of strong fund inflows. The rupee has been steadily gaining after the government earlier this month announced reform measures like allowing 51 per cent FDI in multi-brand retail. Speaking to News Agency Sinha also said both India and China are affected by the global economic slowdown but India being a domestic consumption driven economy could recover fast. When asked what should be done by India to arrest the slide in growth, he said, the country should get hold of inflation. If it happened , growth will have better prospect. Once growth takes off things would be better. He said ; oil prices also affected the economy. India is heavily dependent on oil which also adds to inflation. About RBI cutting down the interest rates he said, RBI is mindful of inflation growth in excess. At the same time RBI first task is to keep inflation down. Anand Sinha is in Beijing to take part in the Regional Policy Forum on Financial Stability and Macro-prudential Supervision, where he spoke on Mitigating Procyclicality in Banking and Bank Regulation.