Interest rate on FCNR accounts of NRIs continues to be regulated for purposes of external sector management. Also, the lending rate by NBFC-MFIs has since been regulated as per the rationale explained earlier. 6  BIS central bankers’ speeches  36. Belying earlier apprehensions, the adjustment to the deregulation has been fairly smooth.
I J Macfarlane: Gresham’s Law of Payments Talk by Mr I J Macfarlane, Governor of the Reserve Bank of Australia, to the AIBF Industry Forum 2005, Sydney, 23 March 2005. *  *  *  I suppose I should start by explaining why I have chosen this title for my talk today.