The Finance Minister, Mr. Pranab Mukherjee said that if the Eurozone crisis stretches on, it could have an adverse impact on capital flows and pose a major concern for the country in the medium-term. <br/><br/>Speaking at the annual general meeting of the Indian Banks Association in Mumbai he said if the crisis in Greece turns into a larger European sovereign debt crisis and possible fragmentation of the European region, there are chances of adverse capital flows. <br/> <br/>He said that such a scenario would be a major concern for India in the medium-term. <br/><br/>Earlier, the Finance Minister said India has taken several steps to restrict the adverse impact on markets arising out of volatility caused by the European debt crisis. <br/><br/>
News On AIR | June 9, 2010 9:43 AM
FM cautions on Eurozone crisis could impact capital flows