This refers to the editorial ‘Balancing act’ (Business Line, June 27). Just after its mid-quarter review, the RBI has sought to upgrade the falling rupee by attracting foreign investments. The introduction of government bonds is a welcome move. Enhancing the limit for foreign institutional investments is a right step to attract dollar inflows. It is also expected that this will attract foreign investments in view of relaxation in rules. It will be easier for new classes of investors to invest in gilts as the RBI’s move also ends entry barriers. It will also be a good chance for Corporate India to go in for ECBs.
- Jayant Mukherjee, Kolkata (HBL)
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