global capital markets / EM FX
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Bloomberg · Global / United States · Rupee at 94 against the dollar, RBI rolls out FCNR-B scheme and $10bn swap to stem the slide
Notes the RBI's additional June 23 measure allowing banks to lend against FCNR-B deposits, extending the June 5 package. Frames the whole set as an orchestrated effort to attract $20 billion in NRI inflows to partially offset the $17-18 billion FPI equity outflows in 2026.
“The RBI is allowing banks to leverage FCNR-B deposits for lending, part of a broader campaign to attract $20 billion in fresh inflows.”