RBI may keep rupee grip post convertibility

The Reserve Bank of India is unlikely to let the rupee off the leash even if the country opts for fuller capital convertibility, according to this article by Reuters published Thursday 27 July.

"A committee appointed by the RBI is expected to submit a roadmap early next week [this week] for a gradual move towards fuller convertibility, which, if taken up, could become India's biggest financial reform in more than a decade," it says.

However, analysts say that with fuller convertibility, risks