RBI's FCNR(B) scheme attracts $41 billion, Jefferies says inflows may double to $80-100 billion
The Reserve Bank of India's Foreign Currency Non-Resident (B) deposit scheme has attracted a significant amount of foreign currency, with $41 billion in inflows so far. This influx of foreign money is helping to stabilize the Indian rupee and is expected to continue, with Jefferies predicting that inflows may double to $80-100 billion. This surge in foreign currency deposits is a positive sign for the Indian economy, as it can help to boost foreign exchange reserves and support economic growth.
Read the source report: Economic Times
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