The RBI’s latest rescue moves gave markets a brief sigh of relief… but experts say the real problem runs deeper. Foreign investors have pulled out ₹2.7 lakh crore this year alone; a record. Why? Taxes. Uncertainty. And a shrinking yield gap with US bonds. Even Jamie Dimon flagged India’s tax unpredictability as a red flag. The Nifty 50 has crashed 14%, trading at its cheapest since 2020. The rupee’s weakness? It’s not just a currency issue; it’s a signal. If India doesn’t fix structural investor fears, even aggressive rate hikes won’t stop the bleeding. The real test isn’t in RBI’s toolbox; it’s in Delhi’s policy choices.