Positive impactEconomy
Will FCNR (B) deposit scheme that's bringing billions of dollars to India end? RBI Governor says this
Economic Times 4 hrs ago·5 Aug 2026, 6:59 am
The Reserve Bank of India (RBI) has confirmed that it will continue its special Foreign Currency Non-Resident (Bank) (FCNR(B)) deposit scheme. This program allows non-resident Indians to park their foreign currency savings in Indian banks at competitive interest rates. The central bank has stated that it is satisfied with the strong inflows of foreign exchange it has received so far and expects more funds to arrive in the coming weeks.
This move is significant for the Indian economy as it helps manage the rupee's exchange rate and strengthens the country's foreign exchange reserves. By keeping this window open, the RBI is signaling its commitment to supporting the currency and ensuring liquidity for the banking sector. Investors should monitor the RBI's future statements to see if any adjustments are made to the scheme's terms or interest rates.
Excerpt from Economic Times
The Reserve Bank of India will continue its special FCNR(B) deposit scheme. This scheme has already attracted tens of billions of dollars into the country. Governor Sanjay Malhotra expressed satisfaction with the robust foreign exchange inflows. The central bank expects more funds to arrive in the coming weeks. There…Read the original at Economic Times
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