Just a week ahead of its first quarter monetary policy, the central bank tweaked some borrowing measures by banks, which is likely to make money costlier by raising demand for rupee.
"Two things have to happen. One, we need to have stability in the markets so that FIIs (foreign institutional investors) are incentivized to come back again. Secondly, India's growth story has to come back. India is always been a growth stock. People come here not looking for just 3-4 percent returns," says Standard Chartered Bank.
Anant Narayan, Co-Head of wholesale banking, South Asia, Standard Chartered Bank does not see the fall in rupee abating soon and S Narayan, former finance secy sees RBI's status quo on rates as a message to the government to address rising food infaltion and stem currency fall.