The Reserve Bank of India's recent measures to ease norms for Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits and External Commercial Borrowings (ECBs) could pave the way for a significant increase in foreign capital inflows, according to Keyur Majmudar, Managing Partner & CIO, Bay Capital Investment Advisors.
In an interaction with Kshitij Anand of ETMarkets for NRI Talk, Majmudar says the regulatory changes have the potential to attract more than $20 billion into India over the coming months as banks step up overseas deposit mobilisation and corporates tap the revised borrowing framework.
