Jay Kotak: Full capital convertibility risks capital flight triggered by Fed actions
Jay Kotak · Ep #5 | EdTech What’s Broken, What’s Next? With Nikhil, Ronnie Screwvala , Gaurav Munjal & Jay Kotak · Nikhil Kamath · Jun 11, 2023 · at 1:52:15
Jay Kotak of Kotak Mahindra Bank argues against rapid full capital account convertibility for India during a macroeconomic discussion with Nikhil Kamath.
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“If you open up completely, you also become mercy even more to something the Fed may do. That is really silly. That causes violent capital flight. That was nothing to do with you.”
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