India draws $72.85 billion in forex inflows, FCNR(B) deposits top $65 billion, says RBI
New Delhi, Aug. 22 -- India has mobilised $65.397 billion through Foreign Currency Non-Resident (Bank), or FCNR(B), deposits as overseas Indians and banks respond to a special Reserve Bank of India (RBI) scheme aimed at drawing foreign currency into the country, according to the latest central bank data released on Saturday.
The figure, recorded as of August 21, accounts for the overwhelming majority of the $72.85 billion raised through three foreign-currency channels covered by the RBI's special USD-INR swap facility. With the FCNR(B) window set to close on August 31, the latest numbers show a strong mobilisation of dollar deposits ahead of the deadline.
The RBI said authorised dealer banks had reported $65.397 billion in FCNR(B) inflo...
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