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Headline: India tries to borrow its way out of trouble Source: Euromoney Date: November 2000 Author: Kala Rao India has hit on a not-so-novel idea to shield an economy made vulnerable by high international oil prices. The government has got State Bank of India, the country’s largest bank, to sell five-year foreign currency deposits to expatriate Indians to help tackle a worsening balance of payments situation.
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