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The Economic Times
The Economic Times

Will FCNR (B) deposit scheme that's bringing billions of dollars to India end? RBI Governor says this

Sanjay Malhotra RBI the Reserve Bank of India India

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.

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