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

The government on Wednesday said the surge in Foreign Institutional Investor 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 in New Delhi 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 appreciation of rupee.