A dramatic increase in Inflation rates: India experienced a hefty rise in inflation rates post 2017 securing its level above average(4) climbing to 6.93% on Y-O-Y basis noted in July 2020. Thus, the ease of acquiring money(₹) is getting easy depreciating its value compared to other foreign currencies.

International Trade Deficit: India is undergoing as an import surplus country since Independence. India's current trade account always experienced an export deficit. India is dependent on more of international goods which bring out lower mileage to India Rupee.

Lower foreign capital Infusion: Since the emergence of the new BJP govt. in the year 2014, Credit rating agencies have downgraded their ratings for India considering it a riskier place for business & investment. Foreign investors lack trust & see India as an unfavourable country for growth due to tax complexities & Political instability.

Low Bank Accounts Transactions: Bank accounts & transactions help in boosting the country's economy as they an offer rate of Interest. Under the leadership of Shri Narendra Modi, 80% of Indians have bank accounts but it is still not sufficient & ranges the top countries with unbanked people.

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https://m.economictimes.com/

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