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| Edited By: |Source: Reuters |Updated: Mar 30, 2018, 02:55 AM IST
The Reserve Bank of India (RBI) prefers long-term capital inflows to short-term flows and was looking to gradually traverse towards capital account convertibility, its governor said in a speech delivered at Zurich on Tuesday.
The speech was placed on the website on Wednesday.
"As regards a Tobin type tax, we have not so far imposed nor are we contemplating one. However, it needs reiterating that no policy instrument is clearly off the table and our choice of instruments will be determined by the context," Duvvuri Subbarao said in the speech.
