Contingency plan in place to tackle rupee slide

A contingency plan to tackle rupee depreciation and the Euro zone crisis has been firmed up at the Financial Stability and development Council meeting held here on Thursday. “The plan is in place. But the details cannot be revealed to the public,” Dr K.C. Chakrabarti, Deputy Governor, Reserve Bank of India, told newspersons after the meeting here. The RBI Governor, Dr D Subbarao, the Chairman of the Insurance Regulatory Development Authority, Mr J Hari Narayan, and the Chairman of the Securities and Exchange Board of India, Mr U K Sinha, and other top officials attended the meeting.