..............He also underscored that there was no cause for panic in currency markets and said communication was getting lost in the din. ‘’ Stakeholders must not distort our messages,” he said.The panic, he added, was feeding into other markets. The press conference came after a three- hour long discussion Chidambaram had with RBI Governor Subbarao, governor-designate Raghuram Rajan and other key officials. Both Chidambaram and Subbarao sought to address concerns of foreign investors saying there is no intention of capital controls and that the issues would be revisited as soon as the rupee stabilized.............
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