Economics
Ex-RBI Chief Flags Risks for India’s Overseas Borrowing Plan
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India’s plan to issue foreign currency debt has no real benefit and is fraught with risks, according to former Reserve Bank of India governor Raghuram Rajan.
A global bond sale won’t reduce the amount of domestic government bonds the local market has to absorb and the country should worry about short-term “faddish investors buying when India is hot, and dumping us when it is not,” Rajan said in a column in The Times of India on Saturday.