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P-Note clampdown to ease pressure on rupee
RBI governor Y V Reddy may have the last laugh. After repeated warnings from the RBI on dangers of a surge in foreign inflows the government seems to have come around to the central bank's views. SEBI's decision to clamp down on P-Notes will help ease RBI's biggest headache of excessive capital inflows, which have led to a sharp rise in the Indian rupee this year.
