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Explore How Vajpayee Ji Saved Indian Economy ? #shorts #politics #indianeconomy with 15,369 views, 743 likes, and 46 comments. Experience the impact of this video content that has captured audience attention.

Three tests were carried out on May 11, 1998, under the code name Operation Shakti, with one fusion and two fission bombs detonated. Two more fission devices were detonated on May 13, 1998, and the Indian government, led by Prime Minister Atal Bihari Vajpayee, quickly convened a press conference to declare India a full-fledged nuclear state. Following the tests, a number of major countries, including Japan and the United States, imposed sanctions on India. To counteract this and attract foreign capital, the Vajpayee government directed SBI to issue a five-year Resurgent India Bond yielding 7.75 percent in dollar terms, raising more than $4 billion. But what exactly is a resurgent bond? It is nothing more than borrowing money from NRIs in exchange for a fixed interest rate in order to build up foreign reserves during a crisis. More than that sense of patriotism, the high interest rates offered by five-year bonds appear to have enticed NRIs in droves. The bonds were denominated in US dollars, pound sterling, and deutsche mark to make them a prime draw. The SBI offered an interest rate of 7.75 percent in dollars in the United States, while the average return for NRIs in local schemes was about 5 percent. With this India showed the world how not to panic even in the existential crisis. This short video addresses this question How Vajpayee Ji Saved Indian Economy ? #shorts #bjp #india #politics #indianeconomy #resurgentbonds #business #finance #stockmarket #stockmarketindia #sharemarket #bonds #startup #sbishareprice #justify #wejustify #justifyshorts #sbibank #creditcard

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