Finance Minister holds pre-budget talks with FIIs

Representatives expressed satisfaction at the functioning of capital markets in India, including regulatory requirements.

Finance Minister P Chidambaram on Saturday met representatives of some foreign institutional investors (FIIs) as part of his pre-budget consultations.

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The representatives expressed satisfaction at the functioning of capital markets in India, including regulatory requirements, official sources said.

Unlike previous meetings with economists, industrialists and agriculturalists, FIIs did not discuss "big bang" policies, but only "procedural issues", sources said.

It was the ninth meeting that Chidambaram has held so far before the budget.