RBI needs to think of ways to bulk up forex reserves: HDFC economist

HDFC Bank chief economist Abheek Barua is of the view that the Reserve Bank of India (RBI) may need to reload forex reserves as the rupee falls further. Forex reserves have shrunk to USD 545 billion from the peak of USD 642 billion a year ago. Barua further stated that more capital is needed at this stage to stabilise a depreciating rupee and the apex bank needs to think of ways to replenish its reserves chest. Encouraging non-resident Indians to deposit more funds in the country and subsidising forwards are among a few options that the RBI can consider to reload reserves, he added.

1. https://www.business-standard.com/article/finance/rbi-may-need-to-reload-reserves-as-rupee-falls-further-hdfc-economist-122092700435_1.html
2. https://economictimes.indiatimes.com/news/economy/finance/rbi-may-need-to-reload-reserves-as-indian-rupee-falls-further-hdfc-bank-economist-abheek-barua/articleshow/94471671.cms