India needs a credible policy to give direction to rupee: Bimal Jalan
In an interview to NDTV Profit, former Reserve Bank of India governor Dr. Bimal Jalan said that there is a need for a credible policy to prevent the rupee's fall as expectations on the currency direction are critical. He, however, believes that the rupee depreciation will not help resolve the issue of current account deficit. "The loss of confidence in India is a key concern; it is critical to have policy reforms. India can overcome challenges if there is a credible policy," he added.
