'NDF sucking out liquidity, need to deepen local forex market'

....."To some extent it (NDF) draws away liquidity from our market. We have to make sure we provide deep and functioning market so that there is no need to establish a parallel market outside," Rajan told analysts and researchers at his maiden post-policy conference call this afternoon. "There is certainly competition for the Indian market and competition generally is a good thing. We should try and deepen our markets to draw in more activity here," the newly appointed Governor said.........

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