Seeking to calm rattled investors, the Government and Reserve Bank of India (RBI) said there was no reverting to capital control regime.

"They are saying that a capital control is coming in... There is no question of us putting any restriction on outflows which are commercial in nature, which means whether it is FII sell...," Economic Affairs Secretary Arvind Mayaram said.

He further said: "there is no control of outflows of dividends, profits, royalties, or on any kind of commercial outflows which happen in the normal course." Read More

Jyothi Shankaran

    Jyothi’s last role was as Senior Editor with the business news channel Bloomberg TV India. He also worked as News Editor at business-standard.com, the online version of the business newspaper Business Standard. Jyothi is a chemical engineer from the Regional Engineering College, Srinagar.