Topic
sitharaman
Finance FM Sitharaman Calls Bond Market Reforms 'First Step,' Signals More Measures to Boost Foreign Capital Inflows
Finance Minister Nirmala Sitharaman described recent measures to attract foreign capital as the 'first step,' indicating further actions are under consideration. The government expanded the Fully Accessible Route for government bonds and granted tax exemptions to foreign portfolio investors, while the RBI introduced swap facilities for FCNR(B) deposits and ECBs. India's forex reserves fell by $711 million to $681.61 billion, and rising global fertiliser prices add to external sector strains.
Finance Rupee-Dollar Movement Driven by Global and Domestic Factors, Sitharaman Says RBI Steps In Only to Curb Volatility
Union Finance Minister Nirmala Sitharaman stated that rupee-dollar movements are driven by global and domestic factors such as US Fed policy, foreign capital flows, and currency crashes in Japan and Korea. She emphasised that the RBI intervenes only to curb excessive volatility, not to fix the exchange rate, using foreign exchange reserves sparingly.