Rupee depreciation is good for the economy: HSBC India's Hitendra Dave

Dave says special dollar deposit schemes are not required at this point as the rupee's loss is more or less over

Rupee depreciation is a good development for the economy and a nominal interest rate hike doesn’t attract portfolio flows, said Hitendra Dave, head of global banking at HSBC India, to Nikhat Hetavkar and Anup Roy. Dave aid special dollar deposit schemes are not required at this point as the rupee’s loss is more or less over. Edited excerpts:

How will data localisation affect HSBC’s India operation?
 

At this juncture, our assessment is that it will not have an impact directly. Obviously, we are in discussion at the industry level with the regulator to figure out whether we will be affected or