CutTheClutter: Intricacies, risks, arithmetic of RBI’s NRI deposit scheme, & India’s chronic foreign exchange crisis
The RBI’s forex swap facility drew over $136 billion. This included 127.23 billion through FCNR(B) deposits, $3.8 billion through ECBs and $5.2 billion through OFCBs. The central bank ended Foreign Currency Non-Resident (FCNR-B) deposit scheme a month early.
#CutTheClutter Episode Xxxx explains the intricacies, risks and arithmetic of RBI’s NRI deposit scheme. ThePrint Editor-In-Chief Shekhar Gupta also explains India’s chronic foreign exchange crisis and what it has led to, in the past.----more----Read Bidisha Bhattacharya’s articles here…
The skinny
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