Top News

To boost dollar inflows, the RBI might revive a special deposit scheme for nonresident Indians (NRIs) that raised $26 billion back in 2013 and could also remove a 5% tax on foreign investments in government bonds.
These moves aren't final yet.
Even though India's reserves can cover 11 months of imports, about $104 billion is tied up elsewhere, making quick access tough.
Plus, equity outflows have already hit $20.6 billion this year, higher than all of last year, so the RBI is also asking oil companies to slow down on buying dollars right now.