RBI expects healthy balance-of-payments surplus in FY27 as June capital measures pay off
Mumbai, Aug. 5 -- Reserve Bank of India (RBI) governor Sanjay Malhotra said on Wednesday that the country's balance of payments (BoP) is expected to register a healthy surplus in the current financial year, indicating that the central bank's June measures to attract foreign capital, including the relaxation of norms for foreign currency non-resident bank or FCNR(B) deposits, have started yielding results.
"Capital flow measures undertaken in June have supported inflows. As a result, the balance of payments is expected to register a healthy surplus this year," Malhotra said while announcing the bi-monthly monetary policy on Wednesday.
The statement is the RBI's clearest indication yet that the package of measures announced in June to sho...
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