Too early to assess impact of Japanese disaster on India: RBI | business | Hindustan Times
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Too early to assess impact of Japanese disaster on India: RBI

business Updated: Mar 17, 2011 12:01 IST

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The Reserve Bank on Tuesday said it is "too early" to assess the financial impact of the Japanese disaster on India and it is in constant touch with Bank of Japan (BoJ).

"It is too early to make an assessment of the financial impact of the Japanese disaster (on India)," Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty said at an event here.

He further said RBI is in regular touch with the Bank of Japan. He further added that "they (BoJ) tell us that the financial markets will stabilize in the next few days".

Hit by a devastating earthquake and a subsequent tsunami last Friday, the world's third largest economy is now facing the threat of a nuclear catastrophe.

Bank of Japan today extended a whopping 8 trillion yen (about USD 98 billion). An amount of 3 trillion yen stimulus was unveiled later in the day.

BoJ's initiatives are primarily aimed at ensuring that banks have enough liquidity.