RBI's plan to attract foreign currency: how much of it could FCNR deposits really expect to lure?
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Summary
It’s a well formulated scheme. The central bank will cover the exchange risk that banks otherwise bear if they hold NRIs’ dollar deposits, even if their rates are capped while debt yields abroad are high. Could the yen carry trade help?
Key Facts
Type Legislation
Source Livemint - Opinion
Published Thursday, 11 June 2026
Affected Population ~850 million internet users, 75,000+ startups
Key Numbers
Rs 15,000 crore for Digital India initiatives
UPI: 14 billion monthly transactions
850 million+ Aadhaar-linked mobiles
GDP: $3.9 trillion (2025 est.)
Key Authorities
Key Stakeholders
Government Context
NDA III BJP-led NDA
Left Centre Right