Capital Account Convertibility-Are we ready for it?

After years of silence, the issue of Capital Account Convertibility (CAC) has once again come to the fore, thanks to recent observations of the Prime Minister and the Finance Minister favouring the move towards full convertibility. Admittedly, India has been doing exceedingly well, particularly on the forex reserve front, with the latest RBI figures showing a whopping USD 140 Billion plus forex reserves.

Click here to read more...