Reserve Bank of India opposes stabilisation fund

Y V Reddy, the governor of the Reserve Bank of India, has stated that "no serious consideration" is being given to setting up a stabilisation or sovereign wealth fund in India.

In a speech to the Foreign Exchange Dealers Association of India (FEDAI) he said that the country was "vulnerable" to shocks arising out of volatility in global oil prices.

"If and when we decide to set up these funds, we have to put in place measures of governance, transparency and accountability which would provide the

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