MUMBAI: The Reserve Bank of India and government could take some unconventional measure like issue of dollar bonds, open dollar window for importers and increase FII investment limit in government debt to curb the depreciating Rupee, said Kotak Mahindra Bank in a report. The RBI and Government are likely to come together and implement certain measures, a few of which we have seen in the past. Ranked according to our preference, we look for some or one of the measures like --moving oil importers to a direct line of access to US Dollars from the RBI,'' said the report. $10-15 billion of US Dollar inflow by NRIs through schemes like Resurgent India Bonds and India Millennium Deposits, introduced during the East Asian crisis and the dotcom bubble burst and increasing debt limit for FIIs in GSecs by US$10 bn could be considered,'' it said. Draconian measures like import tariff increase in gold and discretionary items to reduce consumption,'' said the report. The financial firm continues its depreciation bias on the Rupee and states that fundamentals remain weak and the need for reforms remains in the medium term. We expect the USD/INR to be in the 53-57 range through FY2013,'' said the report.

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