Ruling out a repeat of 1991 crisis situation in 2012, RBI Governor D Subbarao said the current economic situation is different from what it was two decades ago. He said unlike 1991, the rupee's exchange rate is market determined which is our greatest strength. India now has a 280 billion US dollar foreign exchange reserve and financial markets are resilient and robust. Subbarao said this while delivering the K Obayya Memorial Lecture in Hyderabad yesterday.
News On AIR | June 15, 2012 8:45 AM
RBI Governor rules out repeat of '91 economic crisis