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Topics
Reserve Bank of India | Indian financial markets | Shaktikanta Das

Anup Roy  |  Mumbai 

Reserve Bank of India (RBI) Governor Shak­ti­kanta Das defiantly said recently that India has no choice but to accumulate reserves to safeguard against currency market volatility in a taper tantrum-like event.

One little appreciated statistic is that such currency market volatility revisits India in a cycle of every five years, more or less, making former governor D Subbarao joke that one has not qualified as a governor if he hasn’t faced a currency crisis in his tenure. In every crisis, though, India emerged relatively unscathed thanks to the ingenious central bankers ...

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First Published: Thu, March 25 2021. 06:10 IST
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