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RBI Liquidity Tightening Move Surprising: Bhuvnesh Singh

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Bhuvnesh Singh, MD & Head of India Research at Barclays Capital, says that the RBI’s moves on the rupee was surprising. He believes the central bank needs to take concrete action either in the form of sovereign bond or sovereign rupee debt worth $15-20 billion. “Measures on ECBs will take time to get dollar inflows, but will help in the long term,” he adds.