Current account deficit will see a dip in the short term: Kotak Bank chief

Current account deficit will see a dip to about 3 per cent in the short-term owing to falling crude oil prices and drop in gold imports, said Mr Uday Kotak, Executive Chairman and Managing Director, Kotak Mahindra Bank.

Addressing a banking and financial services (BFSI) conference here, Mr Kotak said the rupee is making the Indian companies more competitive. There is no significant spread of credit problems to different sectors of the industry.

“Any further policy measure will be derivatives of the currency movement,” he added.