RBI vigilant on subprime: Reddy

MUMBAI: The Reserve Bank of India is monitoring the evolution of financial contagion spurred by the subprime crisis in the ad-vanced world, RBI governor YV Reddy has said. “We in India are monitoring the process of restoration of full normalcy in global financial markets,” Mr Reddy said while delivering a lecture on the occasion of the 40th anniversary of the Bank of Mauritius on Monday.