Bimal Jalan downplays fears of financial crisis

Saturday saw the governor of the Reserve Bank of India, Dr Bimal Jalan play down any threat of a domestic financial crisis. He reassured people that macro-economic indicators of the Indian economy were strong with low inflation, reasonably good growth and low current account deficit.

"A stable macro-economic environment with low inflation, low current account deficit and reasonable growth is essential to prevent crisis. India has all the three - inflation around 3 per cent, current account def