Economy
RBI Mobilizes $73 Billion Through NRI Special Deposit Scheme
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THE BRIEF
1
The Reserve Bank of India (RBI) has successfully mobilized $73 billion in forex inflows over the last 11 weeks through its FCNR(B) special deposit scheme.
2
The surge in capital is attributed to high-interest incentives for non-resident Indians, with 76% of the total amount identified as fresh liquidity entering the Indian market.
3
Finance Ministry officials stated that these inflows have significantly fortified India's external buffers, providing a cushion against global market volatility.