Rupee moves driven by global and domestic factors, FM Sitharaman says RBI steps in only to curb volatility

Finance Minister Nirmala Sitharaman stated that the rupee’s fluctuations are driven by global and domestic factors, with the RBI intervening only to curb excessive volatility, not to fix a specific rate. She also highlighted India’s position as the fastest-growing major economy and addressed the Karnataka funding row, emphasizing the Finance Commission’s role in fund allocation.