RBI brings forward deadline for banks to raise FCNR deposits after strong response
The Reserve Bank of India has moved up the deadline for banks to mobilise foreign currency deposits from non-resident Indians, after the scheme attracted more than $56 billion in inflows. The RBI said on Friday that banks will now have until August 31, 2026, to raise Foreign Currency Non-Resident (Bank), or FCNR(B), deposits under its special foreign exchange swap facility. The deadline was…
We haven't written up this one. Gulf News has the full story — the link below goes straight to it.
