The Reserve Bank of India (RBI) has no plans to prematurely wind up its special Foreign Currency Non-Resident (Bank), or FCNR(B), deposit scheme that has already attracted tens of billions of dollars into the country, Governor Sanjay Malhotra said on Wednesday.
Addressing concerns over the future of the special window, Malhotra said the central bank remains satisfied with the inflows and expects more funds to come in over the coming weeks.
"We have got robust flows as mentioned, and we do hope to get good healthy close going forward. As of now, there is no proposal under consideration to close the scheme prematurely," Malhotra said at the post-policy press conference.
