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Wednesday, October 10, 2018

Govt considering tapping NRIs to stem rupee fall

In a bid to boost flows to support Rupee that has declined more than 14% against the dollar this year, the govt officials and the RBI are discussing a plan to raise money from non-resident Indians. In the past too, the govt has resorted to bond sales and dollar deposits to overseas Indians to attract foreign funds and ward off pressure on the rupee.

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