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The Economic Times
The Economic Times

RBI's FCNR(B) scheme attracts $41 billion, Jefferies says inflows may double to $80-100 billion

Jefferies RBI India Reserve Bank of India Bonds

New Delhi: The Reserve Bank of India's (RBI) Foreign Currency Non-Resident Bank (FCNR-B) deposit scheme has attracted stronger-than-expected inflows, with around USD 41 billion mobilised so far, and the total is expected to reach USD 80-100 billion by the time the scheme closes on September 30, according to a latest report by Jefferies.

The report said the scheme, introduced by the RBI in early June to raise foreign currency deposits from non-resident Indians (NRIs) and support the rupee, has performed better than expected.

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