The Hindu Businessline

The initiative builds on IFSCAs efforts to create a fully digital onboarding and documentation framework for overseas investors

Expected to open at 94.30-94.35 vs dollar; FCNR inflows far exceed $100 billion priced in by markets

The move comes as banks prepare to manage increased dollar liquidity and rising hedging costs ahead of the special deposit scheme deadline.

NRIs increasingly opted for FCNR(B) route, but a fall in rupee denominated instruments pulled the overall figure down

The International Monetary Fund in its World Economic Outlook for April 2026 noted India's nominal GDP at $3.92 trillion for 2025-26, which makes India the sixth-largest economy in the world

And the inflows are gathering pace as the RBI has cut short the deadline to offer concessional swap facility for fresh FCNR-B deposits mobilised by banks by a month to August 31, 2026

The engagements focused on understanding the evolving aspirations of Indian students, exploring academic collaborations and student pathways, and strengthening institutional ties between Australian and Indian education institutions

Regulator suggests allowing overseas investors from FATF-complaint countries to complete KYC digitally