Mr Tamal Bandyopadhyay-Consulting Editor BS–[1] Instead of using a rate hike to defend the rupee and attract foreign capital, the RBI probably needs to explore other options. [2] RBI can work out a 2013 like formula for corporations to raise foreign capital through banks. [3] says further–Indeed, capital has a cost but it’s worth experimenting now as there seems to be no attraction for a free flow at this point.–