The Economic Times

RBI's FCNR(B) scheme attracts $41 billion, Jefferies says inflows may double to $80-100 billion

The Reserve Bank of India's deposit scheme has attracted significant foreign currency inflows. This scheme is expected to mobilize up to one hundred billion dollars by its closing date. These inflows are helping to stabilize the Indian rupee after a period of weakness. Additionally, tax-free government bonds are attracting foreign investment and improving capital flows.