Steps have been taken to contain speculative pressure on Rupee and the Reserve Bank has, as a policy, intervened in the forex market to contain excessive volatility without of course targeting any level. Caps on banks’ and corporates’ ability to bring in or take out capital have been applied judiciously.
Indeed, financial journalism can be used as a tool to advance the objectives of sound fiscal policies, efficient transmission of monetary policies, address bottlenecks hindering financial intermediation in the banking sector, promote structural reforms, and above all support the process of economic growth and poverty reduction.