India's Jalan- High FX reserves hedge uncertainty

INDIA - India's growing foreign exchange reserves - at record high levels and expected to touch $50 billion by the end of the fiscal year 31 March - "take into account every uncertainty," Reserve Bank of India Governor Bimal Jalan said Friday.

Jalan, attending a book launch in the Indian capital, didn't elaborate on what uncertainty the central bank is hedging against, but said it was in line with international practice to build reserves.

"We're absolutely safe and sound," Jalan said, referring