Lack of monetary independence can make economies more vulnerable to a debt crisis, a new study shows. Photo: Mint
V.P. Nandakumar, CEO, Manappuram Finance. (V.P. Nandakumar, CEO, Manappuram Finance.)
Generally, the money demand function is hard to estimate. Photo: Bloomberg

The risk of a rupee crash looms large

4 min read . 15 May 2018