FCNR scheme inflows reach record high in 45 days

The record

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The Reserve Bank of India's FCNR (B) scheme, launched to attract foreign currency, has drawn a much stronger response than expected.
According to SBI Research, total inflows could reach 80-85 billion dollars, or about 7.1 lakh crore rupees.
Banks raised this amount in just 45 days, surpassing the record set in 2013 when funds were collected over three months.
SBI Research has revised up its earlier estimate of 40-45 billion dollars, and the scheme remains open until September 30.

Whether inflows continue to rise before the scheme closes on September 30
Whether the final total exceeds the SBI Research estimate of 80-85 billion dollars
Any further revisions to SBI Research's inflow projections

1 report

Indian-language1

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Named India · FCNR (B) · Public Sector Banks · Reserve Bank of India · SBI Research

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