Fiscal, monetary discipline important, says RBI chief Urjit Patel

He was speaking at an international banking seminar of G-30 nations at Washington on Oct 15

Reserve Bank of India (RBI) governor Urjit Patel has said it is important for a country to maintain monetary and fiscal discipline if it is to attract investors from abroad. And, justified the central bank's stance on high provisioning toward stressed assets.

Patel was speaking at an international banking seminar of G-30 nations at Washington on October 15, where he used the phrase 'virtual apartheid' for global banks' reluctance to share their currency swap lines with emerging market economies' central banks.

The full copy of the speech was made available on the RBI website on Monday.

"International capital tends to punish monetary and