RBI chief says to give more licences to asset reconstruction firms

HYDERABAD India (Reuters) - Reserve Bank of India (RBI) Governor Raghuram Rajan said on Thursday the central bank will provide more licences to asset reconstruction companies, noting that the country needs more specialists to put distressed assets "back on track."

Turning to markets, Rajan stressed the need to steer foreign investments into longer-dated debt. He was speaking at an event with business students at Hyderabad in southern India.

(Reporting by Suvashree Dey Choudhury; Writing by Gaurav Pai; Editing by Anupama Dwivedi)