In Mumbai, the initials NCP are usually understood to stand for Nationalist Congress Party, the political party of Maratha politician Sharad Pawar that rules Maharashtra in alliance with the Congress. But Reserve Bank of India deputy governor H R Khan invested the initials with a new meaning after the central bank's liquidity tightening measures to arrest the volatile rupee made the street unhappy and caused bond yields to rise sharply. When journalists asked Khan about this at an event in Mumbai, he solemnly replied: NCP. This meant, he elaborated straight-faced, No Comments Please.
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