The government and the Reserve Bank of India (RBI) are in discussion on additional borrowing programmes and the two together will ensure that they are managed in an efficient and orderly manner, RBI Governor D Subbarao said here today.
However, Subbarao admitted the global situation was uncertain and hence it was difficult to calibrate a roadmap in advance.
"We will manage the calender of borrowing to ensure markets are not destabilised in any way; we will manage in an efficient and orderly manner," Subbarao told PTI.
The RBI governor is here to attend a meeting of central bank governors' Asian Consultative Council of the Bank of Settlement. Malaysia is the chairman of the grouping.
The governors also attended the 50th anniversary of Malaysia's central bank, Bank Negara, today. The bankers will attend a brainstorming session on the global financial crisis and the Asian banks' response tomorrow.
Former RBI governor Y V Reddy is also here to attend a panel discussion.