Tuesday, July 23, 2013

Govt to call on NRIs to defend rupee

New Delhi: The government aims to call on millions of non-resident Indians (NRIs) to help reverse a record slide in the rupee, dismissing for now the idea of a global sovereign bond, senior government officials said on Monday. Acknowledging the country faced a dilemma, the officials said India was running out of options and time to revive the currency and fund a record current account deficit (CAD) but equally it was wary of sending any distress signals to international markets.............

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