The RBI implemented measures, including a risk-shielded deposit scheme, to attract foreign capital amidst rupee depreciation and perceived forex outflows. However, the author argues India's forex reserves were robust, with metrics like the Guido-Greenspan ratio and IMF ARA indicating a strong buffer, contrary to a crisis impression. While RBI might be concerned about the direction of reserve change and low net FDI, the article questions the necessity and high cost of these interventions. The scheme will likely draw dollars, but the justification for the significant cost is debated, suggesting an unneeded urgency.