The current free fall of the rupee against the dollar is like history repeating itself -- in 2013, the rupee had plunged to a life-time low due to the US ‘taper tantrum'. At that time, India had mobilised $30 billion through foreign currency non-resident bank account (FCNR-B) deposits by offering a special swap window for banks. The FCNR-B scheme was considered a masterstroke by the then RBI Governor Raghuram Rajan, who announced it to stabilize the rupee as soon as he took charge of the coveted post.