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The Economic Times
The Economic Times
Business

India may see up to $85 billion in forex inflows after RBI's FCNR move: Report

RBI India SBI Research FCA Interest Rates

New Delhi: India may now receive Foreign Currency Non-Resident (Bank) deposits in the range of USD 65-70 billion by the end of the scheme and overall USD 80-USD 85 billion, according to an SBI Research report. The total amount mobilized so far in 45 days has crossed the total amount mobilized in 2013 over a three-month period.

"Given the current trend we believe that total amount mobilized so far in 45 days has easily crossed the total amount mobilized in 2013 in 3 months! Overall, we believe, India may now receive FCNR (B) deposits in the range of USD 65-70 billion by the end of the scheme and overall USD 80-USD 85 bn," the SBI Research report stated.

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The Economic Times
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