Times of India
Times of India
AsiaPac · 2 hrs ago

India draws record $127 billion through forex deposits: RBI

India mobilised a record $127.23 billion through foreign-currency deposits under a special central bank programme aimed at strengthening the country’s foreign-exchange liquidity, highlighting the role of the overseas Indian community in supporting the economy during periods of market stress, the Reserve Bank of India said on Wednesday.Foreign Currency Non-Resident (Bank), or FCNR(B), deposits accounted for $127.226 billion in inflows as of August 31, the RBI said.Including overseas foreign-currency borrowings (OFCB) and external commercial borrowings (ECB), total inflows under the measures stood at $136.377 billion.The strong response prompted the RBI to close the FCNR(B) window a month ahead of schedule. The facility, launched on June 8, was originally scheduled to remain open until Septe
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