Citigroup Inc. During his visit, he spent some time trying to get a first-hand feel of the next set of reforms, banking regulations, and privatisation from representatives of industry and the government. BT's Roshni Jayakar caught up with Rubin in Mumbai. We have been restrained to some extent by the limits on what non-Indian financial institutions can do. Citibank would also be interested in acquiring an Indian bank if regulations permit. Your 1993 deficit-reduction plan helped the Clinton government move from to budget surpluses.
Budget deficits result in high interest rates and sap confidence.
President Clinton said there was much else he wanted to do, but the threshold issue was to establish fiscal discipline. That's what we did. Fiscal discipline is critical for economic success. You have been one of the drivers behind the global financial architecture. Globalisation is enormously beneficial to the entire world.