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From tax waivers to free hedges, RBI & govt join hands to boost Rupee

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From tax waivers to free hedges, RBI & govt join hands to boost Rupee

MUMBAI: In a coordinated move, govt and RBI Friday rolled out a clutch of measures aimed at attracting foreign portfolio investors and non-resident funds to govt bonds and bank deposits. The strategy is as much about sentiment as it is about flows: signalling openness, easing friction, and offering a small subsidy from RBI in the form of free insurance cover to banks against rupee depreciation.

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