RBI's booster for the economy: Too little, too late?
The Reserve Bank of India (RBI), in consultation with the Government of India, decided to ease rules for inflow of foreign money into Indian government securities. It also eased restrictions for Indian companies on overseas borrowings. But, the Indian rupee gave up half of its gains while the BSE Sensex and NSE Nifty slipped into the negative territory. 'Much ado about nothing' said a note by a foreign bank, to its clients soon after the announcements by the Reserve Bank of India.
