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Bringing in US dollars: RBI flags off FCNR(B) chase, pushes banks to go all out for forex inflows — In an ambitious bid to enhance India's foreign currency reserves, the Reserve Bank of India is urging banks to ramp up their efforts in attracting foreign currency non-resident deposits (FCNR(B)). By rolling out a series of enticing incentives for these deposits, the central bank aims to bolster dollar inflows, which will ultimately fortify the stability of the Indian rupee.
13 Jun 2026 Read article