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Diaspora dollars are coming, but India needs export resilience, not quick fixes - The Economic Times
The Reserve Bank of India's special deposit scheme is successfully attracting significant foreign currency from overseas Indians. Banks have already mobilized over seventeen billion dollars through this initiative, which runs until September. This measure aims to bolster the nation's foreign exchange reserves and support the rupee's stability. The scheme also helps correct an imbalance between deposit and credit growth within Indian banks.
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economictimes.indiatimes.com
Indian banks mobilise $20.7 billion under RBI's special incentive window
In a remarkable financial boost, India's central bank recorded significant foreign exchange inflows of $20.72 billion, primarily through a swap facility provided by the Reserve…
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RBI says $20 billion mobilised under the special foreign currency scheme
In a remarkable financial boost, India's central bank recorded significant foreign exchange inflows of $20.72 billion, primarily through a swap facility provided by the Reserve…
