Reserve Bank is open to regulatory changes so as to give a boost to investment in infrastructure sector, its Deputy Governor HR Khan said on Friday.
“We are open for regulatory changes as situation demand as nothing is cast in stone. We are sensitive to demand,” he said at India Investment Summit here. RBI has announced several steps in the last few months including with regard to external commercial borrowings (ECBs).
The apex bank had relaxed ECB norms with fewer restrictions on end uses and allowed loans from sovereign wealth funds, pension funds and allowed loans from sovereign wealth funds, pension funds and insurers to attract more overseas fund.
On rupee volatility, he said, “On a specific rate, I can't comment. Our approach is to avoid undue volatility.” He, however, admitted that international environment will have impact on India and this has been highlighted in the policy statement.