Govt will take steps to check FII inflows if needed: FM

The government today said the surge in Foreign Institutional Investor (FII) inflows is not a matter of concern and measures will be taken to counter it if "distortions" emerge.

"It is not a matter of concern we have a system of monitoring. Whenever we find that there are some distortions, we have the arrangement to counter it therefore it is not disturbing," Finance Minister Pranab Mukherjee told reporters here on the sidelines of Union Bank event.

FIIs have put in a whopping over Rs 71,900 crore so far this year in the country's bourses, the highest ever investment made in rupee terms in a single year. The huge inflow has led to the appreciation of rupee.