RBI deputy governor Shyamala Gopinath in Ahmedabad said that RBI would ask all the banks about their exposure in Dubai World, a state owned cash barren Investment Company.
L&T announced that it had 20 -25 Million Dollar exposure to Dubai. Punjlloyd, DLF, Unitech said that they didn’t have any exposure to Dubai and BoB(Bank of Baroda) said that it had small banking exposure.
In a separate meeting D Subbarao, RBI Governor said “We should not react to instant news like this. One lesson of the crisis is that we must study the developments, and I think we must measure the extent of the problem there and how it impacts India. I have requested my officials to study this, and if necessary we will certainly communicate in the public about what the implications likely are”
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Sathish Emmadi
Sathish Emmadi is a co-founder & editor at Lastbull.com. He is presently working in IT for one of the world’s top mutual fund companies. Handled multiple projects in BFSI (Banking,Financial Services and Insurance) domain. An Engineering Graduate from NITW.
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