Can a Rajan-style NRI dollar-deposit scheme save the rupee?
In 2013, the FCNR (B) scheme mobilised a critical USD26 billion. The rupee's fall was arrested, and the currency clawed its way back. Should India walk on the same path again, although the cost of such schemes will be much higher now? Even as the rupee continues its relentless fall, a parallel is being drawn with the macroeconomic storm that…
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