ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Dilemmas of the Reserve Bank of India

Dilemmas of the Reserve Bank of India Arun Ghosh The fact that a selected number of large Indian firms are allowed to raise working capital abroad through GDRs indicates a policy which is not only in grave error in regard to domestic interest rates, but also highly discriminatory and one which rebounds adversely on the Reserve Bank's capacity to order a sensible monetary policy.

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